Business Mirror 9/26/2008

Ayala Center Cebu announced the completion of its P600-million development and its soft opening by next month.

The new mall wing, officially named as "The Terraces" is a "resort-feel environment" that can be a tourist destination by itself and a one-of-a-kind project in the world, Cebu Holdings Inc. (CHI) president Francis Monera said.

"This project will contribute in changing the landscape of Cebu," he added.

The development will be connected to the main Ayala Center Cebu but is centered around lush greenery, an outdoor activity center and water works in what used to be' a lagoon.

The new wing will have 8,000 square meters of leasable area, 78 ' percent of which are now committed to merchants, CHI retail business group head Clavel Tongco said.

"We will combine the best of Cebu with well-known names in dining and ' lifestyle," she said.

The property will have its grand opening in December, where all of the 55 spaces for merchants are expected to be filled up.