BTC developer eyes "pocket mall" chain

CEBU, Philippines - Noting the apparent recovery of the Banilad Town Center after enduring a steep decline while the Banilad-Talamban flyover project was ongoing, its developer now eyes putting up a chain of neighborhood pocket shopping malls in Metro Cebu.

In an interview with Kyle Kokseng, BTC Inc. administrator, he said that although it may seem untimely to establish another mall in the metropolis, he said there is a good chance for BTC Inc. to pioneer the establishment of a pocket shopping mall or a neighborhood leisure and shopping center.

He added that they have already identified potential areas in Cebu for the pocket-mall project such as in Talisay City in the south and some spots they might consider in the northern part of Metro Cebu.

As of now, the company is focusing on reviving the customer-interest for the BTC, which have been badly affected by the construction of the Banilad-Talamban flyover that spanned more than a year. The foot of the flyover is located right in front of the mall.

Kokseng said although there were tenants that closed during the “trying times” for BTC, he said the mall is now slowly picking up with the opening of new shops such as wellness centers, and educational training centers, among others.

BTC is now enjoying 90 percent occupancy rate, with consumer traffic ranging from 40 percent to 50 percent, he said.

Despite the existence of the flyover facility, Kokseng said the convenience and accessibility for consumers is not affected as traffic rules has favored the mall’s accessibility concern, he said.

 Since BTC is largely serving the A and B markets, tenants are assured of a sustained market with the presence of nearby subdivisions such as Maria Luisa, Sto. Niño Village, and Doña Rita, among others.

In fact, he mentioned that its anchor store, the Robinsons Supermarket, has recently been awarded by the Robinsons Group as the second top performer in all Robinsons Supermarket share in the Philippines, in terms of amount spend by consumer per basket.

He said regardless of the perceived economic crunch, Cebu still offers good business opportunity for retailers, depending on how a retail outlet for instance draws its customers, via innovative come ons.

“It’s no secret that a lot of businesses are suffering,” said Kokseng, but for retail players, it’s a matter of positioning and offering good “value for money” products and services.

BTC officially opened on 2005 and it gained a reputation of being the first mall-location of some well-known brands, such as pizza chain Yellow Cab, Gloria Jeans, Go Nuts Donuts, iStore, among others.

The company is leasing a 1.5 hectare lot for 25 years contract. Kokseng said establishing other neighborhood malls within Metro Cebu area is a good possibility, especially if the global economy will soon take a full rebound.