Tutuban Mall sets P1.5-B redevelopment
By BERNIE CAHILES-MAGKILAT
March 14, 2011
Manila Bulletin
MANILA, Philippines – The Tutuban Mall, the wholesale and retail shopping hub, has announced a major facelift including the development of additional 11.5-hectare property to create a sprawling 20 hectare mix-use commercial center right at the heart of the City of Manila.
Ernesto Hilario, Tutuban Mall business development manager, told reporters at the project launch that the 11.5 hectare-new development will feature commercial areas but also hospitality amenities that would operate on a 24/7 basis.
“We would like to capture the younger market, particularly the students. We are also positioning for the younger Binondo Chinese,” Hilario said.
Part of the plan is the construction of six-story budget hotel, a review center hub and a fresh produce area with estimated initial project cost of P1.5 billion.
“There is no new hotel near here for the accommodation of traders. The nearest hotel would be Manila Opera House and Manila Hotel,” he said. It would be a 250-room hotel.
The review center hub hopes to attract the review centers for board exams scattered around the Claro M. Recto area into one new place.
The new development would also include an ‘Auto City’ or an ‘upgraded Banaue’ where all the automotive showrooms and services are located. There would also be a specific area for motorcycle displays.
Another area would be devoted to a strip mall, which would be developed similar to the Bonifacio Hi-Street to cater to the new generation of ‘Binondo Chinese’.
Hilario, however, said that the new Tutuban Commercial Mall would still retain its symbol as a wholesale and retail market. It has six existing buildings.
The Center Mall would be devoted to the retail market.
The night market in Tutuban, which used to be seasonal, is now on a 365 days a year.
According to Hilario, 50 percent of the new development would be alloted to roads and open spaces to make it more convenient for shoppers, a lesson they learned from the construction of the existing Tutuban mall.
The Tutuban redevelopment also envisioned the creation of an intermodal terminal hub being the home to Philippine National Railways.
Hilario said they are going to get more traffic once the PNR starts its full operation for northern and southern routes. The PNR Bicol line will start in June and the Tarlac line in the first quarter of 2012.
“Although the Binondo-Divisoria is already huge market,” he said.
The management has already started talking with existing tenants. It has an existing 2,000 tenants.
The mall is owned by Tutuban Properties Inc., which is wholly-owned by publicly-listed firm Prime Orion Philippines Inc.
The management is trying to position Tutuban as a brand, not a destination to be able to capture the image of affordability and quality products.
“The redevelopment of the Tutuban Mall is going to change the landscape of wholesale and retail marketing and further metamorphose into a more dynamic and progressive shopping hub in the country,” Hilario said.
Ernesto Hilario, Tutuban Mall business development manager, told reporters at the project launch that the 11.5 hectare-new development will feature commercial areas but also hospitality amenities that would operate on a 24/7 basis.
“We would like to capture the younger market, particularly the students. We are also positioning for the younger Binondo Chinese,” Hilario said.
Part of the plan is the construction of six-story budget hotel, a review center hub and a fresh produce area with estimated initial project cost of P1.5 billion.
“There is no new hotel near here for the accommodation of traders. The nearest hotel would be Manila Opera House and Manila Hotel,” he said. It would be a 250-room hotel.
The review center hub hopes to attract the review centers for board exams scattered around the Claro M. Recto area into one new place.
The new development would also include an ‘Auto City’ or an ‘upgraded Banaue’ where all the automotive showrooms and services are located. There would also be a specific area for motorcycle displays.
Another area would be devoted to a strip mall, which would be developed similar to the Bonifacio Hi-Street to cater to the new generation of ‘Binondo Chinese’.
Hilario, however, said that the new Tutuban Commercial Mall would still retain its symbol as a wholesale and retail market. It has six existing buildings.
The Center Mall would be devoted to the retail market.
The night market in Tutuban, which used to be seasonal, is now on a 365 days a year.
According to Hilario, 50 percent of the new development would be alloted to roads and open spaces to make it more convenient for shoppers, a lesson they learned from the construction of the existing Tutuban mall.
The Tutuban redevelopment also envisioned the creation of an intermodal terminal hub being the home to Philippine National Railways.
Hilario said they are going to get more traffic once the PNR starts its full operation for northern and southern routes. The PNR Bicol line will start in June and the Tarlac line in the first quarter of 2012.
“Although the Binondo-Divisoria is already huge market,” he said.
The management has already started talking with existing tenants. It has an existing 2,000 tenants.
The mall is owned by Tutuban Properties Inc., which is wholly-owned by publicly-listed firm Prime Orion Philippines Inc.
The management is trying to position Tutuban as a brand, not a destination to be able to capture the image of affordability and quality products.
“The redevelopment of the Tutuban Mall is going to change the landscape of wholesale and retail marketing and further metamorphose into a more dynamic and progressive shopping hub in the country,” Hilario said.
No comments:
Post a Comment