CEBU, Philippines - To preserve Colon Street's historical beauty and business dynamism, the Colon Heritage Realty Corporation (CHRC) will reopen Colonnade Shopping Mall tomorrow to strengthen its position as “everybody’s mall” in Cebu.
CHRC president Valeriano “Bobbit” Avila said that the company, which owns one of the oldest landmarks on Colon street, the Oriente Theater, saw the need to improve the facilities located in Colon, and that Colonnade Shopping Mall will take the lead in modernizing and upgrading the buildings and shopping facilities in the area.
CHRC spent about P20 million for the renovation project of Colonnade. Now, the mall will open with over 90 percent occupancy rate.
Despite the fast developments of other commercial districts in Cebu, taking over the popularity of Colon as the center for trade and commerce in the old days, Avila said Colon Street business is still alive.
“I cant say that Colon’s attractiveness to shoppers is dying. There are still a lot of people who prefer to shop in the area. There’s so many people living in the downtown area. Business is still good,” he said.
The modernized 6,000-square-meter Colonnade Shopping Mall offers diverse offerings of retail stores, and services, which zoning include fashion zone, electrical and gadget section, video arcade, services and ticketing offices, food stalls, Bingo zone, and soon the mall will establish a venue to be the home of “chess players” in Cebu.
According to Avila, the opening of the mall would signal the revival of Colon’s attractiveness, with emphasis on putting on high-tech security facilities inside the mall.
CHRC is one of the oldest commercial developers in Cebu, which also owns and manage buildings in the uptown area.
The Colonnade Mall was established in 1996. The company inked an deal with the Altura’s of Bohol to operate the Colonnade Supermarket. The Colonnade Supermarket is owned and operated by the Altura’s Group.
Avila said Colon’s beauty has to be preserved, because it is a direct link to the heritage of Cebu. Although, its theater facility in Oriente Theater is not making “good” returns, he said it has to be sustained in order to offer complete amenities within the shopping mall.
However, he said there is a plan to also renovate the Oriente Theater, to make it a smaller theater instead.
Tomorrow the mall will have its formal opening, and has prepare week-long activities, such as big discount sale, entertainment, fun and surprises for shoppers, and other events, Avila said. (FREEMAN)