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Saturday, April 29, 2006
Ayala affiliates to implement more infra projects at mall, Asiatown IT
A series of expansion buildings and a lagoon will soon dot the landscape of Asiatown IT (Information Technology) Park.
This was revealed by Cebu Holdings Inc. (CHI) president Jose Rene D. Almendras during CHI’s annual stockholders’ mee-ting at the City Sports Club Cebu.
CHI subsidiary Cebu Property Ventures and Development Corp. (CPVDC), on the other hand, will start constructing “in a few weeks” annex buildings of the Ayala Center Cebu. The project is scheduled for completion in March 2007.
CPVDC will start building a lagoon at the IT Park by June or August next year. The project is projected to cost P870 million.
Retail spaces
The multi-level annex buildings, which Almen-dras described as a “series of retail spaces,” will house 50 various retail outlets based locally and internationally. At the first floor of the building would be Rustan’s Supermarket.
Although Almendras admitted that the buildings’ schematic diagram is hard to explain because it has yet to reach its final stage, he said that they “are making sure that the enhancement to the malls is very Cebuano.”
“It’s really a nice place to shop, to walk around in, to sit in and to just spend time in. You’ve never seen anything like it,” he said.
Nature
Since CPVDC would bring in a “nature component” to the buildings, shoppers can expect to hear birds chirping and water rushing while they shop.
The annex buildings will also feature an area where social events and functions can be held.
Strong demand promp-ted CPVDC to expand its retail business.
“For three years, people have been wanting to open new stores in the mall,” Almendras said.
He said there are pending applications of 111 merchant stores. By November, they can open their shops to the public, he added.
He predicted that the annex buildings would generate “very strong” sales grosses. “You’ll just have to look at our annual report,” he said.
Last 2005, CHI posted a 12-percent growth in its retail business with gross sales of P371.8 million, while CPVD revenues reached P50.3 million, up 14 percent over that in 2004. (UP Mass Comm Intern Arrah Camillia Quistadio)
For Bisaya stories from Cebu. Click here. (April 29, 2006 issue)
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