MANILA, Philippines – Real estate firm Century Properties Group Inc. is opening its first shopping mall today, making it the newest retail development in Makati for nearly a decade.
The P1-billion Century City Mall will cater to adjacent office and residential centers while expanding the recurring income portfolio of the property developer.
“We are bringing our experience and expertise in property development into this exciting new venture,” said Century Properties co-chief operating officer Marco R. Antonio.
“With its exciting mix of tenants, Century City Mall is a good addition to the current roster of retail experiences in Makati City,” Antonio said.
Century City Mall, located in Kalayaan Avenue and within the eight-building Century City master-planned development, is the first retail development of the listed real estate firm.
“The over P1-billon development expands the company’s portfolio to recurring income sources, with 17,000 square meters (sqm.) of the retail center’s net leasable space leased out to more than 100 tenants,” Century Properties said.
Century Properties said the shopping mall would directly serve two of Century Properties’ completed Century City towers: the Gramercy Residences and the Knightsbridge Residences.
It will also cater to Makati residents and visitors in nearby office and residential centers, the company said.
Century City Mall carries a wide retail and dining mix of local and international shops, concept stores and restaurants.
Tenants include Rustan’s Supermarket; fashion and beauty stores Desigual, Fresh/H20, Beauty Bar, Hush Puppies, Philip Stein, Swarovski and Victorinox; and food and dining establishments Azurro Bistro and Restaurant, Early Bird Breakfast Club, Pepper Lunch, Starbucks Coffee, TWG Tea, Mochi Sweets and popular US burger joint CaliBurger.
Century City Mall also has four fully digital projection cinemas: three high-end cinemas equipped with 5.1 Dolby Surround Sound Systems and one premiere cinema with 60 fully-automated leather seats and a 7.1 Dolby Atmos Surround Sound system.
“We will work to continuously improve the shopping experience in our mall, and we look forward to opening more shops in the coming weeks,” Antonio said.
For instance, Century City Mall will offer al fresco dining areas in the coming months. Grand opening of the shopping mall is scheduled late in March.
The property firm led by the Antonio family will launch at least P17 billion worth of new projects this year while completing the construction of existing developments.
In January to September last year, the company’s net income grew 12 percent to P1.6 billion from P1.4 billion while consolidated revenues rose 12 percent to P8.1 billion.
With 28 years in the business of real estate development, marketing and property management, Century Properties has completed more than 20 condominium buildings, transforming 744,576 sqm. of space into premier residential and office developments in and outside Metro Manila.
Source: The Philippine Star | February 17, 2014