Wednesday, November 21, 2007 Go allots P210M for mall, UC
CEBU Central Realty Development Corp. has earmarked about P210 million for the expansion project of its existing properties- Elizabeth Mall and University of Cebu Lapu-Lapu-Mandaue campus (UCLM).
Lawyer Augusto Go, owner of Elizabeth Mall, said the company has allocated about P120 million for further development of Elizabeth Mall in downtown Cebu City, and an additional P90 million for a five-story building at the UCLM campus.
In an interview with Sun.Star Cebu, Go said the Elizabeth Mall extension will include the development of a five-story building on a 2,700-square meter lot along Sanciangko Street.
The Emall extension will have a total leasable space of 10,000 square meters for retailers.
Go said the ground floor area of the extension building will be occupied by supermarket tenant SaveMore, which is operated by Value Plus Inc. (VPI), a sister company of SM City Cebu.
Heavy traffic
The mall extension is expected to be completed on March 1, 2008.
“That area (near Elizabeth Mall) is not only near the downtown but also to residential areas. Traffic of people is heavy. There is a big demand for space,” Go said, adding that Emall is visited by about 40,000 to 60,000 people every day.
He attributed the increase in the mall’s visitors and revenues to the strong performance of the Philippine economy that resulted to the growth in the purchasing power of most Filipinos today.
Aside from the mall, Go said the four-hectare UCLM campus will soon include a five-story building that will house classes on advance welding.
He said the advance welding course will enhance UC’s position as a marine and nautical school.
The building will also include dormitories and machine shops, and is targeted to open for the next school year in June 2008.
“There is a shortage of highly-skilled welders not only in the country but even abroad,” Go said, who is also UC president.
Women preferred
He said that while welding is a male-dominated field, international shipping companies prefer to hire Filipino women welders as they are more meticulous than the men.
He said many families would find the tuition for the welding course more affordable than that for nursing. Welders also find good paying jobs abroad, he added.
Like other highly-skilled workers, welders may earn as much as P2 million per year, Go said.
He said some foreign companies even offer relocation options for the welder’s family.
Other than the international shipping industry, demand for skilled workers like welders, fork lift operators and deck and marine engineers, among others, is high in countries like Australia and Canada.
Go also said there is strong demand for Filipino hotel, resort and management graduates in Singapore.
Go said he is optimistic about prospects in the education sector and this is why UC has set aside big investments to provide appropriate training to Filipinos.
“Before, we used to go out to ask companies to look at opportunities here.
But now, they’re turning to us. They are coming not only to recruit but to train students. That’s why I encourage students to work and study hard,” he said. (MMM)
