The Mall of Asia, developed by tycoon Henry Sy has 4.3 million square feet of floor space built on 148 reclaimed acres on the Manila Bay.
Philippine President Gloria Macapagal Arroyo and business tycoon Hans Sy at the IMAX theater on Saturday, May 20, in the newly-opened Mall of Asia. AP photo from Yahoo News.
Large air-conditioned malls are popular attractions in this developing country, the equivalent of large theme parks like Disneyland in the United States.
Although modern "mega-malls" were initially concentrated in the capital Manila, they are becoming frequent in many other parts of the country.
The new Manila mall houses the Philippines' first IMAX theater with an 8-story tall screen and an Olympic-scale ice skating rink.
In addition to malls, Philippine developers have recently seen a boon in expatriate purchases of condominiums and other real estate in the country. Luxury high-rise condos in the posh Makati area of Metro Manila, and vacation homes in the unspoiled countryside are particularly popular.
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Today, there are many condominiums and Philippine real estate properties that are being sold in the market. A real estate agent can help to find the best location and price for you.
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