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Monday, March 13, 2006
ALI appropriates P1B to renovate Cebu mall
By Jessica B. Natad
Sun.Star Staff Reporter
MANILA — In three years, Cebu will see a new Ayala Center Cebu (ACC), as the Ayala Land Inc. (ALI) has allocated more than P1 billion for the mall’s renovation and expansion.
This project is part of ALI’s efforts to stamp the Ayala mall brand on its malls, which have been regarded as the Ayala retail group, ALI president Fernando Zobel de Ayala said during the launching of ALI’s renovation projects in its five Ayala malls at the NBC tent in The Fort, Makati.
While trying to establish the Ayala mall brand in the five malls — ACC, Glorietta, Greenbelt, Ayala Alabang and Market Market — ALI also recognized that the market of each mall is distinct from each other.
“We will find ways to custom fit the renovations in each mall to their respective target market so that each will be able to serve (its market) better,” Ayala said.
New building
ACC is the only Ayala mall found outside Metro Manila.
In an interview, Cebu Holdings Inc. (CHI) president Rene Almendras said the first phase of ACC’s “facelift” has already begun with the construction of a three-story building on the lot that had once been the public utility jeepney terminal. The terminal has been transferred to another site, but still near the mall.
The 2,000-square-meter building will be occupied by a retail store that targets a different market from that of the Metro Gaisano, ACC’s anchor retail store, he said.
CHI, ALI’s affiliate company, will also reconstruct the two-hectare lagoon area into “a green environment outside where people can gather,” Almendras said.
Lifestyle
“It’s not just about land development. It is a lifestyle concept. It would be different from what is already there but will complement (the current environment),” he said.
Almendras said CHI will spend about P27 million for the landscaping of the lagoon area and will create about 20,000 square meters of space for lease by restaurants and wellness establishments.
An outdoor performing stage, which took CHI a year and a half to design, will also be constructed in the area.
“ACC will be more than Greenbelt. (The changes) will custom fit the Cebuanos. We have studied what the Cebuanos do in the mall. Cebuanos are different. What works in Manila may not automatically work in Cebu,” Almendras said.
For Bisaya stories from Cebu. Click here. (March 13, 2006 issue)
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