BGC keeps ranking as 43rd most expensive retail street worldwide

Bonifacio Global City (BGC) in Taguig remained the 43rd most expensive retail street in the world, based on a report by a commercial real estate services firm.

- By CATHERINE TALAVERA

In its Main Streets Across The World 2024 report, Cushman & Wakefield placed BGC in 43rd spot, unchanged from its rank last year.

The report noted that BGC retail rents increased three percent year-on-year to $51 per square foot per year.

Via Montenapoleone in Milan, Italy is the most expensive retail street this year, overtaking New York City's Fifth Avenue, and marking the first time a European location topped the list.

"This reflects robust rental growth on the Italian street, exceeding 30 percent in the last two years, further bolstered this year by the euro's appreciation against the US dollar," Cushman & Wakefield said.