Pueblo Verde 98% occupied; supermarket slated this year-A A +A
Thursday, February 13, 2014
ABOITIZLAND’S first commercial development, Pueblo Verde in Mactan, Cebu, is already at 98 percent occupancy, with the remaining two percent open for leasing.
The five-hectare commercial hub component of the Mactan Economic Zone 2 is a clustered town center featuring a mix of shopping, dining, retail, banking and service facilities.
AboitizLand Inc. commercial business unit manager Clifford M. Academia said in an interview yesterday it is eyeing to add fast food chains to the area.
Pueblo Verde has over 100 merchants to date.
Before yearend, an SM Hypermarket is expected in a 2,000-square-meter lot in Pueblo Verde, with the construction of the building set to begin next month.
“Pueblo Verde is proving to be a good investment for tenants...National players coming into Pueblo Verde are indicators of a good business environment that Pueblo Verde is giving to its locators,” Academia said.
Convenience store chain 7-Eleven is one of the locators in Pueblo Verde, where its branch reportedly ranked among the top three nationwide in terms of sales performance, earning P90,000 to P95,000 per day.
Daily foot traffic at Pueblo Verde is at 15,000, reported AboitizLand commercial
business unit marketing officer Geofel R. Labendia. A big share of the figures was attributed to the opening of The Outlets in December last year.
The Outlets is the region’s first outlet mall where global brand manufacturers like Nike, Converse and Adidas, among others, sell their products directly to consumers at big discounts.
Labendia said another two-hectare lot will be allotted for the expansion of The Outlets, which will house around 20 stalls selling international fashion brands.
Construction of the mall’s expansion will begin in the second quarter of this year and is expected to be completed before the end of the year.
“We are becoming a lifestyle destination... If you noticed, our commercial developments are attached to our industrial and residential developments, because we want developments that are integrated,” said Academia.
Pueblo Verde, which was launched in 2000, initially started with land leasing. Later on, it also leased out buildings.
The establishment of the Robinson’s Supermarket in the area in 2010 further increased the number of Pueblo Verde visitors.
In an earlier interview with Academia, the official pointed out “a retail industry phenomenon” in Cebu that is primarily driven by the growth in the business process outsourcing industry, tourism and the increase in overseas Filipinos’ remittances.
Academia diclosed the company will also be expanding in Batangas, where it recently acquired a property that will be developed into a commercial area.
At present, the property developer is also planning for a commercial development for its Pristina North residential project in Cebu City.
Published in the Sun.Star Cebu newspaper on February 13, 2014.