Bacolod set to upstage Iloilo as WV’s ‘mall capital’

“Doing a mall is not only construction of the physical place: what is important is the merchandising mix. We strive to serve the convenience of the public. We want shopping at our malls to be a unique and an enjoyable experience.”
--Henry Sy

By Alex P. Vidal

NEW YORK CITY --WHEN the SM City Prime Holdings, owned by the late Henry Sy Sr., opened its 8th SM
Supermall in Iloilo City on June 11, 1999, Iloilo City earned the reputation as the “Mall Capital of Western Visayas”.
No present-day mall in Western Visayas has eclipsed SM City Iloilo’s vast size, a four-level complex composed of lower ground floor, upper ground floor, second floor with a total retail floor area of 181,657 sq.m. located at Mandurriao district.
Even if all the malls in Iloilo, Bacolod, Roxas City, San Jose de Buenavista, Kalibo would be joined under one roof, none could match SM City Iloilo’s imposing physical structure that features eight cinemas, food hall, food court and a cyberzone; the SM Foodcourt on the Lower Ground Level of the Main Building, SM Cyberzone at the Third Level of the Northpoint, SM Foodhall at the 2nd Floor of the Northpoint.
Only SM City Bacolod (divided into two buildings called the "North Wing" and the "South Wing" connected by two bridge ways that allow patrons to walk between the two structures), which opened on March 1, 2007, could come near SM City Iloilo’s magnificence in size and value.

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Robinsons Mall also sprouted in Western Visayas’ two major cities, but Iloilo City still retained the kingship in as far as the title of “Mall Capital” in the region is concerned.
But this title may soon be taken away by Bacolod City.
Arra B. Francia reported in the BusinessWorld that Megaworld Corp. is investing P1.2 billion to develop a three-storey mall inside its 34-hectare Upper East township in Bacolod City.
Quoting a statement Megaworld Corp issued on May 24, 2019, the report said the Upper East Mall will cover 24,200 square meters in gross floor area and will have restaurants, four cinemas, an open-air food hall, and an indoor garden.
The Upper East Mall will also reportedly feature a 48-meter clock tower, seen to serve as a landmark for the township’s six-lane main avenue spanning from Lopez Jaena Street to Circumferential Road.
Megaworld Chief Strategy Officer Kevin Andrew L. Tan said in a statement: “We are curating an architectural masterpiece that depicts the cosmopolitan vibe of our Bacolod township. This is just the first mall that we are building in this township because there is still more room for future expansion.”
Megaworld will reportedly use a solar panel roofing for the mall, as well as other energy efficiency features including perceived airconditioning cooling design, escalators with crawling features, rainwater harvesting system that will use the collected water for plants, and gray water recycling system.
Francia reported further that “a gray water recycling system means that water discharged from the sewage treatment plant will be used for secondary flushing of the mall’s toilets and urinals.”
Megaworld expects to complete the mall by 2021.

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Francia reported that “it will be then be directly connected to the transport hub that the company is building across the township’s central park, which in turn faces two residential towers called One Regis and Two Regis.”
Upper East Mall forms part of the company’s P28-billion investment to develop the Upper East in a span of 10 years.
“In the next three to five years, we will see the residential towers, office towers, commercial buildings, hotel, church, parks, and this new lifestyle mall rising. We will also be opening the Upper East Avenue to the public in two years,” Mr. Tan said.
Aside from the Upper East, Megaworld is also developing a 54-hectare township called Northill Gateway along the Bacolod-Silay Airport Access Road. The estate will have its own lifestyle mall and residential villages--Forbes Hill and Fountain Grove.
Megaworld’s net income attributable to the parent grew by 16% to P3.8 billion in the first quarter of 2019, after consolidated revenues surged 15% to P14.9 billion.
The BusinessWorld report also said shares in Megaworld dropped 0.91% or five centavos to close at P5.44 each at the stock exchange on Friday.
The beauty of modern capitalism is it brings unlimited economic progress to cities.
(The author, who is now based in New York City, used to be the editor of two local dailies in Iloilo)

Ilonggos owe Henry Sy Sr a debt of gratitude

“Feeling gratitude and not expressing it is like wrapping a present and not giving it.” 

-- William Arthur Ward

By Alex P. Vidal

NEW YORK CITY -- I can’t wait to see Mayor Jose "Joe III" Espinosa III and the members of the Iloilo City Council in the Philippines honor the late SM Supermalls godfather, Henry Sy Sr, for his big contribution in the metropolis’ economic growth and expansion for over 40 years now.
Ditto for the Iloilo Business Club (IBC).
Ilonggos owe Mr. Sy a debt of gratitude for choosing Iloilo City where to build the first branch of SM Department Store outside Metro Manila in 1979.
The Iloilo City branch was the 4th SM Department Store built by Mr. Sy.
Even as a not-so-expansive department store in the early 1980s, SM Delgado infused tremendous economic gains for Iloilo City in terms of taxes generated for the city government and employment opportunities for the Ilonggos.
SM Delgado’s arrival created a big stir in the Ilonggos’ malling life, and a paradigm shift in the local consumers attitude.
Weeks before the SM Shoe Mart Delgado opened on May 15, 1979, I used to peek inside the glass from outside and saw a lot of shoes being displayed.

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We were told it would be the biggest “shoes mall” to open in Iloilo City, which did not have a big department store at that time other than the chain of traditional wholesale and retail stores in the Calle Real.
When SM Supermarket was conceptualized, SM Prime Holdings opened its store at SM Delgado in 1985 and relaunched the mall in 2004.
It sparked further economic growth for Iloilo City.
SM Delgado was originally known as SM Iloilo prior to the opening of SM City Iloilo on June 11, 1999.
For his 8th of the 72 chain of SM Supermalls built across the Philippines , Mr. Sy picked Iloilo City anew.
The four-level complex, featuring eight cinemas, food hall, food court and a cyberzone with a total retail floor area of 181,657 sq.m., was built and officially opened on June 11, 1999 in Mandurriao district, Iloilo City.
The presence of this mammoth mall, one of the biggest in the entire Philippines, had a domino effect: it further helped skyrocket Iloilo City’s economic development and spur investment opportunities in other areas of business.

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Mr. Sy, who died on Saturday morning, January 19, at 94, was a frequent Iloilo City visitor.
During the inauguration of SM City in 1999, I saw Mr. Sy, moving in a wheelchair, throw coins in the crowd.
I helped myself pick up some coins on the floor together with other guests.
When the Mall of Asia, currently the fourth largest shopping mall in the Philippines and the 13th in the world, opened in Pasay City on May 21, 2006, I was one of the lucky editors officially invited and flown to the event by SM management along with a few selected public officials and business leaders from Iloilo City.
I again saw Mr. Sy throw the coins together with his children and associates.
When Forbes released a list in March 2018, Sy led Filipinos on the World's Billionaires List 2018.
He has been the richest Filipino since 2005 with a net worth of $19 billion, it was reported.
For his gargantuan contribution in the economic life in Iloilo City in particular, and in the entire Western Visayas in general, we salute the Mall King of Asia. Rest in peace.