Filinvest Land to open new malls in 2015

ABS-CBN News

Posted at Dec 25 2014 10:08 AM | Updated as of Dec 25 2014 06:08 PM

MANILA, Philippines - Filinvest Land is planning to open new malls in Cebu and Laguna in 2015.

FLI's subsidiary Festival Supermalls, Inc. expects to increase its nationwide presence next year with the new malls in Cebu and Laguna, as well as the expansion of Festival Supermall in Alabang, Muntinlupa.

Festival Supermall will have a gross floor area of 328,756 square meters upon completion of its expansion area, making it one of the top five biggest malls in the country.

Filinvest Land will also start operating retail and dining strip Il Corso in Cebu and Brentville’s Village Front, a community commercial area of Brentville International in Laguna, in 2015.

Filinvest Land senior vice president for commercial center and retail management Joy Polloso said the expansion will increase the gross leasable area of Filinvest by 58 percent to 219,195 square meters from 134, 090 sqm.

"“We target to soft open the Festival Mall expansion, Il Corso in Cebu and the Village Front in Brentville. The major retail project in Cebu, Il Corso will be opening its doors in 2015. The Central Piazza where the main entrance and amphitheater are located will be ready to welcome guests early next year," Polloso said.

Il Corso, Filinvest’s flagship mall project in Cebu, will have 11 connected buildings and a gross floor area of 55,000 square meters and a gross leasable area of 36,000 square meters. It is envisioned as Cebu’s lifestyle center for shopping and dining.

"Cebuanos still try to keep a laid-back lifestyle and value food as an integral part of their lifestyle. Such is the intent of Il Corso for gathering these Cebuano food concepts in one place, specifically in the central piazza. As a very discerning market, we are providing an experience that extends the Cebuano warmth and hospitality, while at the same time showcasing its global touch," Polloso said.

Filinvest has also lined up new mall developments for 2016. Fora, located in Tagaytay, will have 32,000 square meters of retail and mall space.

The Center Square Community Mall in Molino, Cavite, which will also be launched in 2016, will add 20,000 square meters in new retail space for Filinvest.