SM City-Cebu at Cebu City's north reclamation area recently opened its P1.2 billion (US$29.6 million) expansion called the North Wing.
In the downtown area, Cebu Central Realty Corp. (CCRC) is currently undergoing phase two its expansion project for its mall venture Elizabeth Mall (E-Mall).
CCRC president and chairman Augusto Go earlier said some 5,000-square metres of leasable space are currently under construction at the eastbound Sanciangko area of the malls property.
About 80 units of stalls, excluding kiosks and carts, are projected to be accommodated in the four-story wing which has an additional basement parking of 2,445 square metres.
Francis Monera, president and chief executive officer of Ayala Centre Cebu mall developer Cebu Holdings Inc. (CHI), said Cebu's shopping market has been "tremendously" growing not only in Metro Cebu but in other key cities and towns in the province.
"There is a lot of money in Cebu. Offer something of value and its taken," Monera said.
Cebu is emerging as one of the top shopping destinations in the Philippines, as existing mall operators are expanding and new ones are set to rise in different parts of the province in coming years.
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