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Mall construction on track, says Century Properties

CENTURY CITY Mall, the first retail development of property firm Century Properties Group, Inc., is set to open in the fourth quarter of this year, forming part of the company’s planned mixed-use complex in Makati City, the company said in a statement yesterday.

“Listed real еstatе firm Century Properties announced that the construction of its first retail development, the Century City Mall (on) Kalayaan Avenue, Makati, is right on schedule for its fourth quarter 2013 opening. The mall will be the newest stand-alone retail center to open in Makati in six years,” the statement read.

The five-storey Century City Mall will feature 49,143 square meters of gross floor area capable of housing roughly 110 retail spaces totaling 17,000 square meters of net leasable space.

It has three basement floors with 527 parking spaces.

Century City Mall will form part of Century Properties’ P15-billion, 3.4-hectare Century City project in Bel-Air, Makati City, the statement added.

“We are very excited to open Century City Mall because of its mix of brands, high-end cinemas, dining options, and concept stores. It will be open to the public, and will also serve as the neighborhood lifestyle and retail center for Century City residents, tenants and guests,” Jose Marco R. Antonio, Century Properties President and CEO, said, adding that the tenant take-up at Century City Mall has so far “exceeded expectations.” He, however, did not elaborate.

Other structures set to rise in Century City — which used to be occupied by a portion of the International School Manila for over 40 years — include residential developments Gramercy Residences, Knightsbridge Residences, Milano Residences, and Trump Towers.

These projects are all expected to be constructed within the next three years.

“We expect to generate high foot traffic at Century City Mall because of its exciting mix of retail tenants that will complement what is presently available in other malls within Makati. In the process, this world-class retail development will also contribute to the enhancement of northern Makati’s landscape, realizing our vision for a truly modern Makati,” Mr. Antonio added.

Source: Businessworld Online | April 1, 2013


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