Manila foodparks a ‘growing trend’
Foodparks are a growing trend in Metro Manila, according to a retail property market analyst.
Prime Philippines MD Jet Yu says demand has been growing for sites for Manila foodparks, mainly driven by the millennial market.
He tells The Manila Times that more and more vacant lots will be obtained or leased out for use as food parks in a trend similar to the boom of food markets like Mercato in 2011.
In Metro Manila, the demand grew by more than 10 per cent last year, stemming from establishments such as StrEat Maginhawa, which was followed by multiple foodparks in the area and in other cities.
Apart from catering to the millennial market, the trend presents advantages for the micro, small and medium enterprise (MSME) market, says Yu.
Photo: Pazar Food Park