Ayala Center to expand too...

[arnoldsa]

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Ayala Center Cebu sets expansion
By Zinnia B. Dela Peña
The Philippine Star 03/12/2006

Cebu Holdings Inc. (CHI), a subsidiary of conglomerate Ayala Corp., is spending around P800 million for the expansion of Ayala Center Cebu (ACC) to accommodate more retail concessionaires and introduce more food and beverage outlets.

The project includes the construction of a new building at the southern part of the mall and the renovation of the man-made lagoon. These developments are intended to add at least 7,000 square meters to ACC’s gross leasable area, which is already 99 percent occupied.

CHI also plans to put up more parking spaces to meet the requirement of the local government.

This expansion, set to be implemented in two phases, will begin by the second half of the year and is expected to be completed by the end of 2007, CHI said in a disclosure to the Philippine Stock Exchange.

CHI, a leading real estate company in the Visayas and Mindanao, intends to bring in more foreign brands from Asia, United States and Europe to the Cebu market.

Over the last three years, ACC has undergone major renovations, which cost the company several billions of pesos.

ACC has remained as the crown jewel and centerpiece of the 60-hectare Cebu Business Park. For years, it has maintained its role as the major revenue generator and growth catalyst for the company.

Aside from the expansion of ACC, CHI will also launch a new residential project targeting the middle to high-end markets.

With the continued growth of its retail operations, CHI is ready to invest huge amount of money in ACC in the next three years.

Formed after an Ayala-led consortium acquired the 44.6-hectare lot owned by the Cebu provincial government in 1988, CHI developed the Cebu Business Park, which was then envisioned to become Cebu’s business and financial center.

[randy111979]

wow!!! very promising.

[tolstoi]

i hope there will be more computer/tech stores :mrgreen:

[arnoldsa]

The expansion is really very very big. Imagine it would cover the parking area of Marriot (I wonder where they would relocate it), the surface parking area of Ayala, and the present jeepney terminal (where again would they relocate this..).....

[hyrei]

unsa kahay resulta ani na expansion wud it be gud kaha or not.... lets see nalang f human....

[tolstoi]

development/progress is always good :mrgreen:

[samsungster]

this is a good development for cebu...

[slakker]

more jobs for cebuanos...

[brian_d]

I think it's going to be a Greenbelt type of development. Al Fresco Dining and Entertainment.

Good news ni!

[fingolfin]

..whoa, another good news. keep em coming. Non-stop prosprerity. yummy.