Mall to open

Thursday, December 20, 2007
Mall to open in February

DEVELOPERS of a mall being constructed at the Mandaue City reclamation area are confident that when the first phase of their project opens in February next year, it will attract many people, especially Cebuanos.

The first phase of Parkmall@168 (Parkmall) will include al fresco shops and SaveMore, a supermarket brand under the SM Supervalue Group, said Parkmall business development director Christopher Tio.

Tio told reporters in a press conference yesterday that the entire mall will become fully operational in June next year.

“Cebu’s economy is moving toward a boom. We’re very bullish (because) the market is really moving,” he said.

SaveMore, the anchor locator, of Parkmall, will occupy nearly 50 percent of the ground floor of the mall’s main building.

Eva Du, operations manager of SM Supervalue Inc., said SaveMore at Parkmall will be the first outlet in Cebu that will carry the new concept of SaveMore chains.

Room for more

SaveMore has branches at Elizabeth Mall in Cebu City and Marina Mall in Lapu-Lapu City.

Despite the proximity of SaveMore at Parkmall to SM City Cebu, Du said the Supervalue Group believes that with further growth of Cebu’s market, there is room for more supermarkets.

“SM is not a threat because we believe that we have not yet tapped the full potential of the market in Cebu. We’re also banking on (the inclination of) Cebuanos to patronize Parkmall,” Du said.

Tio said Parkmall is designed to showcase the “best of Cebu” and provide the experience that is distinctly Cebuano.

Parkmall will feature a rotunda, ala Fuente Osmeña, amid a park setting where people can stroll, shop and dine al fresco, and enjoy the scenery.

“We, Cebuanos, grew up having Fuente Osmeña and Plaza Independencia. As Cebu has become modernized, things have become different. We want to bring back the same experience of our childhood,” Tio said.

Carlos Co, chairman of Golden Great Value Properties, a member of the Cebu Oversea Group and developer of Parkmall, said the mall involved an investment of P300 million to P400 million.

Lease

Parkmall was supposed to open this month, but Co said construction was stalled when the company agreed to provide temporary shelter to Mandaue City fire victims.

Parkmall will rise on a 30,000-square meter (three-hectare) property that was supposed to be the site of Uniwide. Golden Great Value Properties has a 25-year lease agreement with Mandaue City for the use of the property, Co said.

James Co, Parkmall managing director, said the company is helping other project developers in the area facilitate for new public utility jeepney routes.

Parkmall, which is located next to the Cebu International Convention Center (CICC), is a few meters away from the new Cebu Doctors’ University campus and Boardwalk, another commercial complex that is still under construction.

Tio said future developments in the area will banish the notion that the reclamation area is a dangerous place to be, especially at night.

“There must be about 12 projects that will break ground (in the area). We’re also helping in the installation of street lamps,” he said.

With a lot of optimism in the market, Tio said Parkmall is setting aside space for further expansion. “That’s phase three, but we’re keeping it under wraps while we are still negotiating with several proponents,” he added.

Aside from the piazza and SaveMore, Parkmall will also feature a kids’ village, and a tourist and traveler center, which will be equipped with hotel check-in desks, airport and seaport shuttle service, lockers and showers. The mall will be able to accommodate about 700 cars in its parking lots.

Tio said Parkmall also wants to be a venue for retailers to develop unique concepts.

“We want to be an incubation venue for unique concepts,” he said, adding that Parkmall will even subsidize the rent for a certain period of qualified retailers. (LAP)