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Old January 12th, 2010, 01:25 PM   #1
Henz
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CONSOLACION | SM City Consolación [3F|com]

SM to build new malls, more projects in Cebu
By Aileen Garcia-Yap



Cebu Daily News First Posted 08:01:00 12/29/2009 Filed Under: Department stores, Infrastructure

After enjoying double-digit growth in sales this year, SM Prime Holdings Inc., which owns SM malls nationwide, is bringing in more projects to Cebu in the next two years.

Marissa Fernan, vice president for marketing of SM Prime Holdings Inc. (Visayas and Mindanao), said two more SM malls will soon rise to cater to the north and south areas of Cebu.

“Another mall will rise in Consolacion in northern Cebu with an area between 35,000 to 55,000 square meters,” Fernan said

Fernan said that they would tie-up with Everjust Realty and Development Corp., which is owned by Justin Uy, owner of Profood International Corp., for the development of the mall.

The Consolacion mall will hopefully be launched in 2011.


Fernan, however, did not specify the area in the south of Cebu that they planned to build a mall.

But according to earlier reports SM Prime Holdings Inc. was buying a 30-hectare lot at the South Road Properties in Cebu City and part of the development of the lot would include a mall.

Fernan also said that they would also be launching an IMAX theater in the existing mall anytime between the first or second quarter.

According to SM Cinema's website, IMAX is the world's most advanced digital theater system and is superior to all conventional digital systems.

Radisson Hotel, which SM Prime Holdings developed out of the old Sheraton Hotel structure (which never opened), is expected to open its doors for customers anytime in 2010, Fernan said.

Fernan added that to make it more attractive to their guests, they are designing incentives and promotions.

“We can have them claim something in the mall to encourage them to come here so that we can create traffic too but these are still plans,” Fernan said.



*UPDATE*
SM Prime finishing plans for third Cebu mall, eyeing fourth
BY MARITES S. VILLAMOR, Visayas Bureau Chief
BusinessWorld
October 10, 2010

  • Mr. Sy said initial investment in the Consolacion mall would be between P750 million and P800 million.
  • Construction will start before the end of the year, with the mall expected to be completed by the last quarter of 2011.
  • The two-storey Consolacion mall will be an upscale mall with a gross space for lease of about 40,000 sq. m. and gross floor area of about 57,000 sq. m.
  • A long-term lease contract for the 47-hectare project site was signed between SM Prime and lot owner Everjust Realty Development Corp. on Friday.
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Last edited by rustyboi; October 11th, 2010 at 10:15 AM. Reason: added project details
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Old January 12th, 2010, 01:41 PM   #2
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YEAH!!! another mall to rise in CEBU!!
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Old January 12th, 2010, 01:48 PM   #3
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THE FUTURE SITE


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Old January 12th, 2010, 02:22 PM   #4
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[IMG][/IMG]
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Old January 12th, 2010, 02:57 PM   #5
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I wonder where in the SM hierarchy of malls this will fall under. Given the size of the mall, it's probably an SM Center, like SM Center Las Piñas. Or an SM Supercenter, like SM Supercenter Molino or SM Supercenter Muntinlupa.
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Old January 12th, 2010, 04:46 PM   #6
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Quote:
Originally Posted by Henz View Post
THE FUTURE SITE


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Is this the lot owned by Justin Uy?
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Old January 12th, 2010, 04:47 PM   #7
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Quote:
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I wonder where in the SM hierarchy of malls this will fall under. Given the size of the mall, it's probably an SM Center, like SM Center Las Piñas. Or an SM Supercenter, like SM Supercenter Molino or SM Supercenter Muntinlupa.
SM City daw
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Old January 12th, 2010, 05:01 PM   #8
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Hmmm, ano kaya ang pangalan... SM City Consolacion or SM City North Cebu.
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Old January 12th, 2010, 07:16 PM   #9
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^ i think mas okay SM City Cebu North
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Old January 12th, 2010, 07:19 PM   #10
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...so, 2 tie-ups ang Everjust Realty with SM....the other one is J Mall where SM will have a Hypermart or, is there something wrong sa news article? heheheh!


Quote:
Originally Posted by Henz View Post
Fernan said that they would tie-up with Everjust Realty and Development Corp., which is owned by Justin Uy, owner of Profood International Corp., for the development of the mall.

The Consolacion mall will hopefully be launched in 2011.
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Old January 13th, 2010, 03:20 AM   #11
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Is this the lot owned by Justin Uy?
Yep... there is an existing huge building, which according to my informant will be either demolished or renovated. The property is huge, estimated at more or less 5 hectares.

The lot was purchased by the Profood Group ( Justin Uy) from a manufacturing firm which failed due to the financial crisis.
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Old January 13th, 2010, 03:23 AM   #12
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Quote:
Originally Posted by diehardbisdak View Post
...so, 2 tie-ups ang Everjust Realty with SM....the other one is J Mall where SM will have a Hypermart or, is there something wrong sa news article? heheheh!

Yes.. but this time.. both the Everjust and SM are into joint venture, i guess.
Unlike in the J-Mall, where SM will operate only the Hypermart.


By the way, i found out, that the Pro-food Group of Justin Uy is very very aggressive in the real estate business today..

I will still show you pics of the a commercial building at the AC Cortes which is being renovated and expanded. This is the Kia Showroom site which is also owned by the Profood Group.
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Last edited by Henz; January 13th, 2010 at 03:28 AM.
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Old January 13th, 2010, 03:53 AM   #13
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maayo ni imo gibuhat @henz da hehehe... mas maka-rely pa ta sa SSC kay sa mga newspapers hehehe...
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Old January 13th, 2010, 04:10 AM   #14
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MORE SITE PICS..






THE HIGHWAY NEAR THE SITE IS NOW BEING REHABILITATED WITH NEW ASPHALT COAT....

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Old January 13th, 2010, 05:12 AM   #15
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Ayos, lamat bai henz!

When this is finished, duol ra pod gihapon sa amoa sa Pusok because I live near the Fernan Bridge. Hehehe. Daghan naa kaayo choice asa mag shopping lage. Kwarta na lang kuwang!
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Old January 13th, 2010, 05:22 AM   #16
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Quote:
Originally Posted by Henz View Post
MORE SITE PICS..






THE HIGHWAY NEAR THE SITE IS NOW BEING REHABILITATED WITH NEW ASPHALT COAT....

woow good news indeed...so anu pla to dati?manufacturing of wat?
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Old January 13th, 2010, 05:57 AM   #17
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nindot au ang site. dugay naa kaau na diha ang existing building na wa gigamit.

dapat ma widen ang highway diha na area
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Old January 13th, 2010, 09:37 AM   #18
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bitaw murag gamay ra dalan diha especially nga duol sa bridge. pero i'm sure SM will provide ample space para di maghuot.
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Old January 13th, 2010, 10:28 AM   #19
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Quote:
Originally Posted by Sinjin P. View Post
Hmmm, ano kaya ang pangalan... SM City Consolacion or SM City North Cebu.
naming it SM City Consolacion will pressure our local government to convert Consolacion into a city... it's a good thing

SM City North Cebu? sounds good.

What do you guys think of SM putting up a mall in Danao City? I think a major mall up there would greatly decongest Cebu City, and encourage more people to move north. what's apparent, real estate companies are developing several areas in Compostela and Lilo-an for residential subdivisions. it's a good start. and perhaps someday an SM City Danao will become feasible.
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Old January 13th, 2010, 10:32 AM   #20
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Quote:
Originally Posted by Sinjin P. View Post
Hmmm, ano kaya ang pangalan... SM City Consolacion or SM City North Cebu.
i think its either SM City North Cebu, SM City Cebu North or SM City Vice Versa
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