PR ARchive: P40-M Mall to rise near Fuente Osmeña

P40-M Mall to rise near Fuente Osmeña

Business –Sun.Star Cebu (page A16)

Tuesday, August 14, 2007

A CORPORATION is investing about P40 million for a new shopping center that will rise near Fuente Osmeña in three months.

Allister “Lester” G. Cañizares, Cebu Super Development Corp. manager, said that One Mango Avenue, which is being patterned after the Banilad Town Center (BTC), has a unique setting since it follows a zoning concept.

One Mango will also be a smaller version of BTC.

Cañazares said the entire first floor will accommodate all food-related businesses; the second floor is for commercial spaces while the third floor will accommodate the Be U Cebu, a traditional Cebuano-inspires bazaar.

History

Annalissa Chua, Be U Cebu business associate, said the entire of third floor will showcase the Cebuano’s history and character through murals, color schemes, pieces of local furniture and picture frames of Cebu’s landscapes and events.

With the center’s accessibility to schools, Chua said the entire concept is to make the shopping destination a venue for learning for the youth as well.

Aside from gimmick and fun “naa gyud siya’s ikaayo sa youth,” she said during the media forum and recent official marking of the site (It will bring something something good to them).

She also said that they will be offering low lease rates, since Be U Cebu will be tapping selected tenants from existing baratillo spots like Colon Street, Taboan and Tabo s Banay, among others.

“We are tying up with the other establishments in Colon,” Chua said.

With Be U Cebu’s promotion of affordable lease rates, it will start with a rate of P200 per day to cover three months for the first tenants to register before the end of this month.

Tenants

The list of tenants for the shopping center is already 80 percent complete, Cañazares said.

It includes Mr. Coffee, Handuraw, Dimsum, You Resto Bar, Enhance Immigration Services and Titus Internet Café, among others.

One Mango Avenue is expecting to accommodate a total of 63 tenants including eight food kiosks, which will be screened by the management.

Cañazares said Mango Avenue used to attract many local and tourist shoppers before, however, “the earnings of the place slow down when Banilad developed its shopping center.”

Realizing that their 6,000-square-meter vacant ancestral lot can be developed to lure investors in the area, Cañazares started the construction of the center in the 1,100-suare-meter lot for the three-floor commercial shopping center.

Expansion

If the business performs well, Cañazares said they will expand the center in 15 to 20 years.

The entire shopping center will cater to a wide market, but specifically, it aims to lure consumers aged 17 to 40.

Moreover, with the sprouting of the call centers in the area, Chua said the mall will tap the market since they have a strong purchasing power.

They will be operating from 3 p.m. to 12 a.m. during weekdays and until 3 a.m. on weekends to cater to shoppers working for business process outsourcing firms. TEP