Vol. XXII, No. 70 [ BusinessWorld Online ]
Friday, October 31, 2008 | MANILA, PHILIPPINES
CEBU CITY — Ayala Land affiliate Cebu Holdings, Inc. yesterday opened its P60-million entertainment and lifestyle mall at the Ayala Center Cebu.
The Terraces, patterned after the Greenbelt Mall in Makati City, is expected to boost the city’s tourism industry, Cebu Holdings President Francis O. Monera said.
The Terraces is part of the company’s P1-billion mall expansion and facelift projects. Once it operates at full capacity in December, 55 new dining and lifestyle outlets will greet mall goers, Mr. Monera said.
Clavel G. Tongco, head of the Ayala Mall Group-Cebu, said The Terraces is designed to become another landmark in Cebu.
"It’s something that Cebu doesn’t have right now. More local and foreign tourists will surely come and visit it," Ms. Tongco said.
Among popular Manila outlets that will open shops are TGIF, Thai restaurant Banana Leaf and Japanese coffee shop UCC.
Meanwhile, Cebu’s homegrown restaurant outlets will introduce something new and authentic to the market. Hukad, owned by Golden Cowrie, will use a native Cebuano dining concept, while Krua Thai owners will open Siam, which will serve Thai cuisine. — RTA
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