Wednesday, May 10, 2006

M.O.A.

I'm actually excited about this. Hello, its just outside my door. I live, literally, within walking distance from this gi-normous mall.

Ladies and gentlewomen, the SM Mall Of Asia




Some trivia:

When the Mall of Asia opens its doors on May 21, it will offer 386,000 square meters of lease space for shopping and dining, cinemas and an Olympic-size skating rink.

About 280 meters of floor area offers a view of the majestic sunset over Manila Bay.

It is about half the size of the South China Mall in Dongguan, China -- said to be the world's biggest mall -- but about 30 percent bigger than the Mall of America, the second-biggest shopping center in the United States.

Sy said it would take three hours just to stroll through the mall and two-and-a-half days if you took a five-minute stop in each shop.

"We believe strongly that if this is accepted by the public, I think we are on to see a brighter future," Sy said.

It took two and a half years and P6.5 billion ($126 million) to build Mall of Asia but SM Prime expects its 25th shopping center to put the Philippines on the world retailing map.

SM Prime expects the project to contribute about two percent to group revenues this year, rising to 10 percent when it reaches 100 percent occupancy. Mall of Asia will open with 70 to 80 percent occupancy on May 21.

With the sheer size of its leasable space, the group expects to fully recoup its investment in Mall of Asia in eight-and-a-half years, slightly longer than the seven years in its other mall projects.

"It's something that we felt that we would sacrifice a little but would enhance not only the value of the name of SM but the whole property," Sy said.




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Kita kits on May 21.

[Music of the Moment: You Make Me Wanna - Usher ]
[Mood: gi-normous ]

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