(Source: Inside Retail Philippines | 25 May 2016)
Parkmall Cebu expands its mall construction as the Mandaue reclamation area continues to develop.
Slated for completion by the last quarter of 2016, the construction of the West Strip is the first phase of Parkmall’s three-year redevelopment plan, which also includes the construction of a parking building and additional leasable spaces in the enclave building.
West Strip will house at least 20 tenants. Its facade will feature sun baffles and wave roof structure consistent with the mall’s alfresco design.
Parkmall’s development expands to include an outdoor escalator, which will connect with the public utility vehicles (PUV) terminal and parking lot to the second floor of the West Strip and the main mall.
Earlier this year, Robert Go, president of the the Philippine Retailers Association Cebu, said the PRA is expecting retail competition to rise in the region as more foreign brands arrive. Local food retailers are also feeling the pressure, he said.
Go said in an interview that local retailers will need to be more competitive to avoid being swallowed up by the new players.