Filinvest kicks off construction of P3B Il Corso project at SRP

CEBU, Philippines - The expansive P3-billion retail development project of Filinvest Land, Inc. (FLI) at the South Road Properties (SRP) has already advanced to its construction stage, expected to be worked out within an aggressive two-year timeline.

Named Il Corso, Italian words meaning “The Way,” this is FLI’s first attempt to bolster its retail component outside of Luzon, some 15 years after it built up its first retail development in Alabang.

“We’ve been planning this for few years already, and now we’re moving to the construction aspect which would take us around two years to complete. Our target date of completion is final quarter of 2015,” said Joy Polloso, FLI senior vice president for retail commercial operations.

The sprawling development will sit on a 10-hectare property, a strip of land jammed in between the SRP Road and the sea. FLI will utilize eight hectares for this specific development, while the rest of the land will be set aside for future developments.

Il Corso will house 11 interconnected mixed-use structures, majority of which will cater to retail services.

Officials expect to accommodate close to 300 tenants in its 36,000 square meters of gross leasable area, although the total gross floor area of the entire complex sums up to 70,000 square meters.

Polloso said the time is ripe for Cebu to embrace this kind of expansion considering the enhanced infrastructure and lifestyle sophistication present in the bustling city.

Outside Metro Manila, Cebu is considered to be the most viable place to house a project like Il Corso, she added.

“I’m sure Cebuanos are now very much exposed to brands, and people here are becoming well-travelled. So I think Cebu is very much ready for a lifestyle development like this,” said Polloso.

Features

Walkway and water features are expected to elaborate the whole development, which will highlight a central plaza with an amphitheatre and dancing fountains, among others.

“More than just presenting a new shopping and dining destination, what we really want to offer more is a place where people can have pleasurable and recreational experience,” according to Polloso.

The orientation, according to Polloso, is like an envelope around, where one can’t see it facing one side. “It’s like facing everywhere,” she said.

The development, Polloso elaborated, is also quite different in the aspect of how they are trying to put the buildings altogether. “We play around with the natural charm and coastal-scape of this area.”

A four-level retail building will house the cinemas and retail outlets interlinked in a unique architectural design. It will also feature a bridge that connects the buildings and has a ramp especially dedicated for bike enthusiasts.

Parking spaces will be situated on both ends of the complex. People can access the shops from either way and there is going to be a grand entrance leading to different malls.

With regard to earthquake preparedness, Polloso assured that their technical team is exercising due diligence to make sure that their works are done according to the required standards. (FREEMAN)