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Old January 15th, 2006, 11:09 PM   #61
fahed
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Quote:
Originally Posted by sinjin

The planned seven-level shopping center, called the Millennium Mall, is to be built around the recently renovated stadium, with 500,000 square feet of shopping on each floor.

COME ON! Who would want a seven-level shopping mall!!

Tall malls SUX.
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Old January 16th, 2006, 03:49 AM   #62
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Quote:
Originally Posted by Sinjin
The planned seven-level shopping center, called the Millennium Mall, is to be built around the recently renovated stadium, with 500,000 square feet of shopping on each floor.
the Millennium Mall is 500,000 SQ METERS not sq ft!

The whole Araneta Center will have a total of 972,000 SQ METERS or roughly 10.5 MILLION SQ FEET.
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Old January 16th, 2006, 03:54 AM   #63
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Quote:
Originally Posted by c0kelitr0
the Millennium Mall is 500,000 SQ METERS not sq ft!

The whole Araneta Center will have a total of 972,000 SQ METERS or roughly 10.5 MILLION SQ FEET.
Coke, you had a misunderstanding. It said that it will have 500,000 square feet on each floor, so it would be 3,500,000 square feet (500,000 square feet x 7 levels)
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Old January 16th, 2006, 03:56 AM   #64
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Quote:
Originally Posted by sinjin


Presently there is 350,000 square meters which is comprised of the ff:
>Gateway Mall
>Farmers' Plaza
>Ali Mall
>Araneta Coliseum
>SM
>Rustans Superstore
>Shopwise
>Farmers Market
>Fiesta Carnival
>Aurora Tower
>Value Station



In the next four years, another retail area (Millenium Mall) will be linked to the complex adding 325,160 square meters and another retail area will then be added (Manhattan Mall) which will have housing on the rooftop (cool!) adding 18,580 square meters

So that'll be 350,000 sq.m. (present complex) + 325,160 sq.m. (Millenium Mall) + 18,580 sq.m. (Manhattan Mall) = 693,740 sq.m.

After those projects, another 210,000 square meters mall will be linked to the complex.

So, 693,740 sq.m. + 210,000 sq.m. = 903,740 sq.m.

^I'm quoting this again for everyone's guidance.
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Old January 16th, 2006, 03:57 AM   #65
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Quote:
Originally Posted by dubaiflo
well this is a shopping complex consisting of several malls though, while both in dubai are single malls.
that's because if you have seen the map, there are several public streets between the "malls" but these are going to be connected in the upper floors making them look and feel like the whole complex is just ONE mall of 10.5 million sq ft. and i believe this is just going to be the retail space because the whole area there is really huge like you have to drive from one end to another
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Old January 16th, 2006, 04:16 AM   #66
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^Coke, there it is in post #64 already.
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Old January 16th, 2006, 07:33 AM   #67
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Araneta Center is huge with plenty of retail places in its premises but the paint scheme of Araneta Coliseum is hideous.



Pearl of the Orient Seas - The Philippines
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Old January 16th, 2006, 10:56 AM   #68
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Quote:
Originally Posted by fahed
COME ON! Who would want a seven-level shopping mall!!

Tall malls SUX.

thats your opinion then..


for me, i looooove massive malls!!!
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Old January 16th, 2006, 11:54 AM   #69
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Only the Grinch hates malls.
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Old January 18th, 2006, 02:45 AM   #70
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Business, retail hub of future

YOU may have noticed that the Araneta Center in Cubao is in a state of flux.

But whatever changes you are now seeing are just the initial phase of an ambitious 1.25-billion-dollar (68.5 billion pesos) master plan to transform the area into a prime business and retail center in 20 years.

Araneta Center MasterPlan, as it is called by its planners, will involve the construction of a multi-story mall surrounding a renovated Araneta Coliseum, hotel facilities, and the Manila Tower, a towering communications building that will rival Paris' Eiffel Tower in height.

As soon as the first phase is completed, Araneta Center will be the largest shopping center complex in the world, according to US-based consulting firm RTKL.


800,000 people

Converging daily in Araneta Center are more than 800,000 people, a big market that has led to the redevelopment plan.

And to capture this market, the two-billion-peso Gateway Mall will offer five levels of shopping, dining and entertainment destinations. It is expected for completion by March 2004.

The 100,000 square-meter mall will also showcase the 10-screen Warner Bros. Cinemas, including a 40-seater Gold Club Cinema.

Integrated atop Gateway Mall is a seven-story office tower called "cyberoffices." These offices will be equipped with advanced telecom facilities and broadband technology to meet the unique requirements of modern-day entrepreneurs engaged in the business of information technology.

Gateway Mall will be directly linked to two major transit lines (MRT 3 and LRT 2) and the Araneta Coliseum.

35-hectare property

It was in 1952 when Filipino industrialist Don Jose Amado Araneta purchased Araneta Center's 35-hectare property bounded by EDSA, Aurora Boulevard, P. Tuason and 15th Avenue.

Since then, Araneta Center has become one of the largest retail entertainment mixed-use centers in the Philippines.

It boasts the following landmarks: the Araneta Coliseum, one of the world's largest clear span domes and Southeast Asia's largest indoor facility; Ali Mall, the country's first multilevel commercial mall; New Frontier Cinema, one of the country's largest theaters with over 3,500 seats; and Fiesta Carnival, the country's first all-year indoor amusement center.

In 2000, Araneta Center set into motion phase one of the MasterPlan with the renovation of Araneta Coliseum and Farmers Plaza.

The redevelopment project carefully considers both upscale and economy markets. For example, tiangge (flea market) centers are now concentrated in one area. It also considers ultimate comfort and convenience, which is why the design of the new Araneta Center will put shopping and entertainment destinations side by side with the business centers.

http://www.inq7.net/globalnation/sec.../sep/10-03.htm
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Old January 18th, 2006, 02:52 AM   #71
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Ready for the Next Wave



Araneta Center Inc. (ACI), the flagship company of the close-knit and conservative Araneta family, is turning 50 next year. And the family thinks it’s time to crawl out of that tired image and become vibrant once again. To do that, they are spending serious money in an ambitious effort to restore the Araneta Center in the heart of Cubao, Quezon City.

The makeover doesn’t only apply to its 35-hectare prime property, which houses what used to be the grand doyenne of Philippines’ leisure complexes, the Araneta Center, but spills over to its other business interests, which are poised to launch their own expansion and rehabilitation plans.

Before the end of the year, wholly owned subsidiary Philippine Pizza Inc. won’t just be serving personal pan pizzas and stuffed crust pizzas. It will also be serving tacos and enchiladas in its new Taco Bell stores, ACI president Teofilo Asuncion Jr. revealed.

Publicly listed Atok Big Wedge Co. Inc., which is 67.4 percent owned by the Aranetas through its different subsidiaries and personal shares, may restart its long-idled mining operations in Benguet in response to favorable gold prices in the international market.

Most of Araneta’s business revival plan was hatched in 1997, when the Philippines was enjoying a brief economic boom. "The organization then was still being run as a family-owned company—very highly-centralized. The direction that Mr. [Jorge] Araneta wanted was to decentralize the different operations," Asuncion said.

"His major concern was: ‘How can I professionalize the organization so that it can continue after me,’" said Asuncion, a former Accenture executive whom Araneta plucked out of retirement in 1998 to help reorganize the Araneta companies, which numbered more than 100 at that time. Since then, the Araneta group of companies has hired around 50 executives to manage the revamped organization that had been streamlined to only a handful of core businesses.

The Scions

The 68-year-old Jorge L. Araneta, the only son of Don J. Amado Araneta, is ACI’s chairman, a position he has held since 1978. He took over as president a decade earlier. His elder sister, Judy Araneta Roxas (Mar Roxas’s mother), serves as the vice chairman, while younger sister Maria Araneta Fores sits as a director.

Among the third-generation Aranetas, only Jorge A. Fores, son of Maria A. Fores and Dr. Raul Fores, holds an executive position at ACI as vice president for billing and collection.

The second-generation Aranetas own ACI through their joint corporation, Associated Sugar Inc., and their respective corporate vehicles, Kauswagan Development Corp. (Mrs. Roxas), Apex Management and Development Group (Mr. Araneta), and Arafor Trading & Development Corp. (Mrs. Fores). They also hold a token amount of shares in their individual names.

The siblings oversaw the construction of Ali Mall, one of the first malls in the country, and Fiesta Carnival, the Philippines’ first indoor theme park. ACI also leased out land to premier department stores, like Rustan’s and SM, for their own freestanding stores.

All these made Araneta Center the mecca of Filipino shoppers in the late 1970s and early 1980s, a far cry from the grassy antenna relay station of Radio Corporation of America when the Araneta patriarch bought the lot in 1955.

Stuffed with the riches from his four sugar mills in Negros, Don Amado, who was both admired and sneered at by his peers for his "grand visions," saw the potential of the property as it sat astride two major thoroughfares—Aurora Boulevard and Highway 54, now called Edsa.

Development Vision

"He saw the intersection and anticipated that this was going to be a major area sooner or later," Asuncion narrated. "And building a coliseum was one way that he thought he could accelerate the development of the place."

Araneta Coliseum, also known as the Big Dome, was built in 1957 and opened in 1960 with a boxing bout that drew more than 37,000 spectators. Several more bouts, including the Thrilla of Manila, were held in the Big Dome. These days, more than 200 sporting events and entertainment shows are staged in it every year.

The New Frontier Theater opened in 1968, followed by Farmers Plaza in 1969 and Farmers Market in 1972. But the properties deteriorated as newer, more hip leisure centers sprang up.

Four years ago, ACI launched a rehabilitation program for its properties. So far, it has upgraded Araneta Coliseum for P250 million and Farmers Plaza for another P250 million. Ali Mall has spent P100 million for its renovation. It needs P10 million to P20 million more to spruce up the exterior.

All these will herald the completion of its newest crown jewel, the P2.5-billion, 100,000-square-meter upscale Gateway Mall, due to open in September.

Jorge Araneta saw the convergence of the two mass transit systems in Cubao as a unique opportunity to revive the decaying Araneta Center.

This isn’t the first attempt to regain its lost glory. In the late 1980s, the Aranetas tried to develop a tract of land behind the New Frontier Theater into a commercial and office building. But their business partners backed out after the series of coup attempts against President Corazon Aquino.

The political uncertainty of the Marcos and Aquino years made the family hesitant to commit large sums of money on its own to further develop Araneta Center. But while the Aranetas sat out the rest of the 1980s and 1990s, other developers like Henry Sy and the Ayalas forged ahead. As a result, new commercial centers were built and they were left behind.


ACI reached deep into its pockets and borrowed some more from its major banks, Bank of the Philippine Islands and Metropolitan Bank and Trust Co., to bankroll the project. The Aranetas decided to build a Rockwell-sized mall following the political upheavals during the Estrada presidency.

"The style of the family is that they have always been on the conservative side. They funded most of their developments using their own cash flow," Asuncion said.

ACI’s cash on hand and in banks has dropped to P19.2 million as of end-2003 from P157.9 million as of end-1998. Total assets, however, remained strong at more than P4 billion. Net income slipped to P28.4 million in 2003, as against P82.1 million in 2002 due to lower sales in light of the mall construction.

Changing Face

The Gateway Mall is set to become the landmark of Araneta Center, said 33-year old Eugenio C. Barcelona, research manager of Gateway Mall. Leasable space is already 65 percent contracted out, with Judy Roxas overseeing the leasing activities. They expect the mall to be 80 percent leased out by the time it opens, Barcelona said. Prospective tenants should first be deemed tasteful before they can set up shop in the mall, which is connected to the Cubao station of LRT 2.

ACI’s officials aren’t worried that the upscale ambience they are trying to revive will be undermined by its current image as a haven for the C, D, and E market. They cited the case of Shangrila Plaza, which is connected to an MRT station and sandwiched between two mass-market malls.

"Don’t underestimate the power of positioning," said Richard Raymundo, director for research and consultancy division of Colliers International. "If you offer the market something new and something sustainable—give the proper mix of tenants, facilities, amenities and attraction—then it should work."

Barcelona pointed out that Gateway Mall is situated near affluent villages in Quezon City, including La Vista and New Manila. The master plan forecasts as its primary target market the upscale areas in Quezon City, San Juan, Marikina, Pasig, and Mandaluyong, which have a combined population of 3.74 million, 22 percent of whom are from class A and B households and 47 percent from the C households. More than 800,000 commuters also pass through the area every day.

The mall also offers 5,000-square-meter office spaces where it can accommodate the demand from call centers. An adjacent office building is being renovated for another 5,000 square meters.

ACI also plans to build a residential tower, a four-star business hotel and a grade-A office building, probably within the next six years, Asuncion said. The new structures are part of the grand 20-year redevelopment plan prepared by a group of well-known property planners led by the US-based RTKL International Ltd. in 1998.

The study said Araneta Center was underutilized with a floor area ratio of almost one-to-one as compared with the more developed area of 10-to-one. The plan called for the construction of three million square meters of new spaces—residential, retail, office, and entertainment—estimated to cost P60 billion. Even the Aranetas’ residence at the edge of the property would be demolished to give way to a business hotel.

There’s a plan to develop the family’s 30-hectare estate in Bacolod, their hometown, into a mixed-use property, and their San Mateo, Rizal, property once the real estate market recovers.

IPO Candidate?

As they revive Araneta Center, the Aranetas are tasting success in their Pizza Hut franchise, now being operated by Philippine Pizza Inc., a firm established in 1998.

Philippine Pizza—100 percent owned by Progressive Development Corp. (PDC), which in turn is majority owned by ACI—recently sealed a franchise contract with US-based Yum Restaurants International to operate Taco Bell stores, of which two are slated to open this year.

Last year, the company netted P149.40 million compared to P122.45 million a year ago, on sales of P1.85 billion as against P1.63 billion a year earlier. Franchise fees charged to operations amounted to P72.33 million in 2003 as against P64.17 million in 2002. The franchise agreement for Pizza Hut is for 20 years up to 2009.

Asuncion said that among the subsidiaries, Philippine Pizza is in the best position to do an initial public offering because of its steady income stream and neat corporate structure. He stressed, though, that there is still no firm plan to go public in the near future given the poor market conditions.

Two Listed Affiliates

It’s not as if the Aranetas don’t have any listed firms. The Aranetas currently hold stakes in two publicly listed companies. One is Atok Big Wedge Co., which is 67.4 percent owned by Jorge L. Araneta, the estate of Don Amado, and three of their companies, and the other is 7-Eleven franchise holder Philippine Seven Corp.

Atok Big Wedge, which has made no profit since 1991, has virtually stopped its mining operations owing to the weak gold market. But with the rebound in gold prices, its recently spun-off Atok Gold Mining Corp. is poised to restart exploration. The company has 84 mining claims with a total area of 549.1698 hectares, of which nine are patented mining claims and 75 are patentable.

In its 2003 annual report, Atok Big Wedge said it is exploring other business ventures, but officials declined to give specifics. Last year, it incurred a net loss of P2.56 million as against P1.47 million a year earlier.

Philippine Seven, where Mr. Araneta sits on the board because of the 8.87 percent stake held by PDC and Apex, turned the corner last year. Net profit reached P9.3 million, a turnaround from three years of consecutive losses.

Philippine Seven Corp. had 195 convenience stores by the end of last year. It plans to bring the number to 260 by the end of this year. PSC expects sales to grow at a reasonable rate of 4.4 percent and looks forward to achieving another profitable bottom line in 2004.

But the centerpiece of the Araneta business empire’s revival is the redevelopment of Araneta Center. After decades of falling behind its competitors, the family is betting billions that it can be repackaged to compete with other mixed-use developments and regain its crown as the premiere high-end urban leisure center.

http://www.inq7.net/nwsbrk/2004/aug/02/nbk_4-1.htm
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Old January 18th, 2006, 11:25 AM   #72
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Nice!! Would love to see it one day!
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Old January 18th, 2006, 11:26 AM   #73
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Quote:
Originally Posted by dubaiflo
you are all forgeting dubai's upcoming malls.
btw is there any difference between the largest in
-size
-usable space
-shops

and shopping complex or single mall?
Is it hard to accept that Dubai is not going to have the largest of something? lol
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Old January 18th, 2006, 11:55 AM   #74
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God I hate massive shopping centres. Although this looks phenomenal. You really have to make it a day trip. There is no "in and out" in these places..
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Old January 18th, 2006, 01:42 PM   #75
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Quote:
Originally Posted by fahed
COME ON! Who would want a seven-level shopping mall!!

Tall malls SUX.
IMO, tall malls are better than 1 or 2 floor suburban malls, with their huge parking lot.

I like the Manila's mall plan.
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Old January 18th, 2006, 02:10 PM   #76
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good project for manila
go go goo..
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Old January 19th, 2006, 10:22 AM   #77
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i really cant wait on this... coz im like 20mins away from here... hehehe
oh well, for now, i have to enjoy gateway's cineplex in araneta center...
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Old January 20th, 2006, 05:26 PM   #78
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Hi! I have been lurking in Manila forum and frankly can't say anything other than being elated to see Manila, my birthplace, is joining the ranks of fast-growing Asian cities in terms of skyline and architecture.

About the mall. What's so great about mall, as in general? I hate indoor malls. I can't stand people bumping me with their shopping bags and looking at me as if I did a wrong thing to them. Weird people hanging out the food court or public bathrooms. Shoppers ooh-and-aahh over the water fountains or hanging decorations. I prefer outdoor street-level shopping like Chicago's Michigan Ave or NY's 5th ave. Does Manila/Quezon City has that similar kind?
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Old January 21st, 2006, 03:23 AM   #79
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Yeah, there are a handful. First is the Eastwood City Walk. It is primarily an outdoor fine-dining destination but it caters to numerous shops as well. Second would be Greenbelt. Though most shops in Greenbelt are found indoors, the more famous shops are found outdoors, together with 1st class restaurants. And third is the Avenida. This pedestrianized area of Avenida Rizal in Manila is quite doing well as a destination for low to middle-income shoppers.
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Old January 21st, 2006, 05:07 AM   #80
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i think, manila has all kinds of mall IMO...
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