Duty Free signs deal with Cebu Boardwalk

Duty Free Philippines will soon have a home at the North Reclamation Area (NRA) at the Mandaue City, after it inked a deal with FF Cruz & Co. Inc. (FFCCI), the developer of Cebu Boardwalk.

Mandaue City Mayor Thadeo Ouano announced that Duty Free Philippines may open its shop in March, three months early of the Cebu Boardwalk official opening.

Ouano said the 50-hectare Cebu Boardwalk, which is envisioned as the premier tourism, leisure, and shopping destination in Cebu is expected to fully operate July of 2007.

Ouano said the Memorandum of Agreement (MOA) between Duty Free Philippines, and FFCCI has been signed already, emphasizing the opening of Duty Free shop at the area by March next year.

The boardwalk, designed as a tourism and leisure hub in Cebu, will sit on the 50-hectare area of the 180-hectare NRA-Mandaue.

Cebu Boardwalk will have an 8,000-square-meter amphitheater park, which will be an ideal venue for concerts, theater productions, cultural presentations and huge expositions; cinemas; art gallery; marina and yacht club; marina promenade; a Zen center where fitness gyms, health spas, hair salons and skin and body care salons will be located.

It will also have a tourist center, visitor center, souvenir shops, antique shops, duty free shops, restaurant strips, fastfood chains, food court, retail shops, banks, themed flea market and a trade and exhibition center.

FFCCI aims to transform the area into a world-class visitor destination, aside from spurring economic and financial development in Mandaue. This will enhance tourism and socio-economic activities, ensuring sustainable and excellent quality development.

The project was supposedly set to be completed last year, but it was delayed due to some problems.

Ouano said the July 2007 schedule for opening of Cebu Boardwalk is already final.

The opening of the world-class tourism, shopping, leisure facility facing the Mactan Channel will further boost Mandaue's employment generation, significantly contribute economic upsurge.

Aside from shops, entertainment joints, coffee shops, interest hotel investors are already lining up to start contracture within the area, the Mayor said in a press conference.

Mandaue City government owned 30 percent of the 180-hectare NRA, the rest is owned by FFCCI, a Manila-based developer.