Upbeat retail market boosts occupancy rate of J Centre

By Ehda M. Dagooc (The Freeman) Updated July 21, 2011 12:00 AM

CEBU, Philippines - The upbeat ambiance of the retail market has helped boost the occupancy rate of the soon-to-open shopping and entertainment mall J Centre, in Mandaue City.

Developed by the newly established EverJust Realty Development Corporation, J Centre’s total 60,000 to 70,000 square meters of leasable area already posted a 70 percent occupancy rate.

Jerry Uy, the company’s corporate secretary said the three-story mall is on target for its opening in the next few months, while its grand launching is set on November this year.

While the mall component of the integrated mixed-use development is now 70 percent completed, Uy said the company is currently negotiating with international hotel chain to start off its hotel project, shortly after the mall will be opened.

According to Uy, Cebu’s vibrant economy has continued to attract investors to the province, and retailers including those from Metro Manila, are now expanding their respective outlets here.

The mall will have the SM’s Hypermart as its anchor store. Part of the tenants that already have contracts with the mall management include; Guess, Mossimo, Accessorize, Diva, an international bakeshop chain, among others.

Although it is positioned as “high-end” shopping and leisure destination, Uy said a good mixed of shops that offer affordable products and services that attract the huge middle-class market.

The J Centre is a mixed-use development consisting of mall, hotel, served apartments and call centers that provide world-class service, among others.

EverJust Realty Development Corporation is the real estate arm of Prufood International Corporation, led by Justin Uy.

The creation of Uy’s real estate development arm—the EverJust Realty and Development Corporation, would pursue the capitalist’s bigger dream to develop his available land-bank in Cebu.

Uy believes that the sustained tourism growth and BPO companies’ expansion here are just two of the main drivers that further fuel Cebu’s economic growth.

Retail sector, on the other is one of the frontline beneficiaries of the vibrant economy in the province.

He added that part of the long term plan, is to enter in the development of a hospital that will cater the medical tourism market.

Uy said the good pool of medical professionals in the country, and the over-supply of nurses should be maximized, thus helping the “brain-gain” bid of the Philippines.

Aside from medical tourism facility, Uy also mentioned to enter into an establishment of Resort in the near future.

Uy is one of the most successful Cebuano processed food exporters in the country through the Prufood International, which exports the dried mango, and other processed food products to other countries. (FREEMAN)