MANILA, Philippines - The Philippines’ top realty developer Ayala Land, led by president Antonio T. Aquino, and four other top executives recently forecast a bullish Christmas season and a better world economy as evidenced by their newest project — the 70,000-square-meter Marquee Mall in Angeles City, Pampanga, which will have its soft opening on Sept. 23 and grand opening in January 2010. This new shopping, dining and entertainment center was built at a cost of over P1 billion and a minimum of 5,000 new jobs will be created.
At our recent dinner in Shangri-La Makati’s Circles resto with Ayala Land senior vice president Marivic Añonuevo, vice president Rowena Manhit-Tomeldan, senior division manager Catherine R. Bengzon, and senior division manager Javier Hernandez, Aquino told The Philippine STAR: “I saw this morning on CNN Federal Reserve chairman Ben Bernanke saying that the US economy is getting better and President Obama also said so, and I’m not going to contest all that. On the Philippine economy, people predicted that remittances from overseas Filipino workers (OFW) would be flattish, but there was actually growth. We are optimistic.”
Aquino added: “Our business has been growing and it’s not true that high-end shopping areas like Greenbelt 5 are affected, we have good business…Property companies should increase investments to help accelerate economic growth. For 2009, new investments of Ayala Land will be P19 billion, and next year maybe this amount will be a little more.”
After Marquee Mall, Ayala Land officials said they plan to open their 50,000-square-meter Abreeza Mall in Davao City in time for Christmas 2011, and this lifestyle mall will be part of a nine-hectare, mixed-use development. This Davao project is a joint venture with the Floirendo family. Ayala is also looking at other places to expand and build more malls.
The fast-developing, heavily populated and strategically important Central Luzon region is now the newest battleground for the Philippines’ mall giants, which is good for consumers. Dynamic free market competition will mean better services, better goods, and possibly lower prices. The nearest competitors of Marquee Mall are SM Clark, and San Fernando’s SM and Robinsons Malls. Another local competitor on a smaller scale is Nepo Mall in Dau.
Ayala Land officials explained that they chose to invest in Angeles City because it is the new crossroads for commuters between Metro Manila and northern destinations such as Baguio City and Clark.
Unknown to most people, Angeles is dubbed the “Entertainment Capital of Central Luzon.” According to the Center for Kapampangan Studies, the popular Filipino dish sisig originated in this city and has reportedly been on the menu since the 1730s. When asked about this, Ayala Land SVP and Ayala Malls Group head Marivic Añonuevo said Marquee Mall has already attracted the top restaurants like Nathaniels, Susie’s Cuisine, Ikabud, Kabigting’s Halo-halo, and Aling Lucing’s Sisig to showcase the best of Kapampangan cuisine.
This new shoppers’ paradise will have international brands like The Travel Club, Samsonite, Aldo, Nautica, Iora, Lacoste Footwear, Sanuk, Bossini, Naturalizer, Aerosoles, Nine West, Lacoste, Marks & Spencer, Swatch, Res Toe Run, Geox and others. Metro Manila brands will also be represented in Marquee Mall, like Bench, Penshoppe, Folded & Hung, Kamiseta, and Bayo.
The mall has three floors with more than 450 stores and restaurants. Ayala officials explained that “Marquee Mall raises the bar on mixed-use developments in the region as it is strategically located in the vicinity of Marquee Place, a residential area developed by Alveo Land.”
Ayala officials said Marquee Mall will also be home to an inter-modal transport terminal for buses, jeepneys, AUVs and tricycles, upgrading accessibility and turning it into a major regional convergence area. When this writer asked if this was inspired by their TriNoma Mall’s nearby competitor SM North EDSA’s Sky Gardens atop its new inter-modal transport terminal, the Ayala executives said that TriNoma is also now constructing and improving its facilities for public transport.
On the subject of TriNoma, which is the favorite of executives Añonuevo and Bengzon since they live in Quezon City, the Ayala officials said they envision building basement connections for cars similar to Ayala Center in Makati. Antonio Aquino said he foresees that five years from now, the dream of QC Mayor Sonny Belmonte and Councilor Ariel Inton for a new central business district (CBD) for Quezon City on government lands near TriNoma can be realized.
In Marquee Mall, another ethnic Chinese business clan, the Gaisanos of Cebu, is their strategic partner with their Metro Supermarket and Department Store. Of Marquee Mall’s 70,000 square meters of floor area, about 30,000 square meters will be occupied by Metro. Led by Jack, Margaret and Frank Gaisano, this entrepreneurial clan from southern Philippines has already tied up with Ayala Mall Cebu with their Metro Gaisano and also their successful Market! Market! across Serendra in The Fort.
Built just beside the new City Hall of Angeles, Marquee Mall will have a 1,000-square-meter Activity Center featuring viewing levels with terraces similar to the ones in TriNoma.
Just outside Marquee, they have attempted to create a modern-day town plaza with a garden-type atmosphere. This design of Ayala Land for Marquee Mall isn’t surprising, for the modern-day substitute of the once busiest town plaza, usually near the Catholic Church, has nowadays been supplanted and replaced in social importance by the uniquely fun, diverse and fiesta-like atmosphere of the Philippines’ various world-class malls.
* * *
Thanks for your letters, all will be answered. Comments or suggestions are welcome at willsoonflourish@gmail.com or at my Facebook account.