THE Araneta Group on Friday bared numerous developments worth P35 billion, which are now taking place as part of its initiative to transform the iconic Araneta Center into a top commercial and business hub in the country.
“It’s one of the oldest commercial business districts in the Philippines. When it started out, it was envisioned—contrary to the other business centers—as the one that had an entertainment component and then, obviously, there was also a retail-shopping component,” Araneta Group Management Consultant Rowell Recinto said.
“But, then again, as a sign of the times, places and economies evolved. The Araneta Center has to keep up with the development of the business and economic climates. And that’s really the reason Araneta Center is moving into a mixed-use development, rather than just an entertainment and shopping [center],” he said.
The township is strategically designed to provide a seamless blend of shopping, dining, leisure, entertainment, corporate, residential and hospitality options.
This year various improvements have already occurred, with the reopening of the 2,500-seat Kia Theatre (formerly known as the Frontier Theater) and the soft opening last month of the 400-room Novotel Manila Araneta Center.
Recinto said they hope to reclaim the country’s “premier performing arts venue” monicker, with its bigger and better facilities and topnotch amenities.
As for the first international business and leisure hotel in Quezon City, Novotel is aimed at changing the “negative” image of Cubao’s environment, he said.
“In a bigger picture, what we wanted the hotel to accomplish for us is that Araneta Center is an area for premium brands,” he said.
Novotel Manila General Manager Bernd Schneider said they aim to serve both local and foreign business and leisure travelers with their signature brand of service.
“With Novotel’s superb offerings, we will bring them the hospitality that Filipinos are famously known for,” he said.
As part of Araneta Center’s redevelopment plan in the next 10 years, the residential district that accounts for about 25 percent of the total land area of the property has the 18-tower Manhattan Garden City, complete with approximately 9,000 units and recreational amenities.
It is comprised of Manhattan Parkway, Manhattan Parkview, Manhattan Heights and Manhattan Plaza.
“Five towers are now finished and there are residents there. Another three is about to be finished—it’s [called] Manhattan Heights,” Recinto said. “We are continuing with the development of the next phase of Manhattan Garden City, which is the Manhattan Plaza.”
Seeing the growing demand for office space, especially from the ever-expanding business-process outsourcing industry, CyberPark Towers are on the rise for technology-based companies.
According to the consultant, the first of its five towers will be fully completed in the first quarter of 2016, with the second in 2017.
The group has already built an office structure called the Gateway Tower, which now houses global outsourcing firms, such as Accenture and Telus, among others.
Completing the 1.1 million square meters of shopping area is Gateway Mall 2, which, along with the award-winning Gateway Mall, will offer a wide array of stores fit for every customers’ distinct taste.
“We are in the final planning stages for our Gateway Mall 2. This is not going to be a luxury, but an upscale mall by its standard,” Recinto said.
Soon to rise also is the 60-story Civic Plaza, featuring a wide, outdoor concourse with greenery landscape.
“It is the heart of the Araneta Center. It will definitely be an iconic addition to our redevelopment plan,” he said.
Seeing the upcoming massive changes in the area, including the traffic situation, the group is open for any plan changes, if required.
“Our master-planning process is organic. We are not going to be so inflexible or to be short sighted that what we thought of five years ago and we find out that it is wrong now will not be changed,” he said. “As best as we can, we try to anticipate, but we are not hostage to our plan.”
Given the big size of the Araneta Center at a total of 35 hectares, Recinto said the redevelopment plan does not end with the ongoing identified projects.
“It’s still a very big piece of property. There are quite a number of pieces that are expiring. And we have not yet finalized the plans for that, although we are discussing [it]. [So] there are still a lot more to come,” he said.