Ayala Land Inc.’s flagship shopping mall, Greenbelt 1, will be demolished in the first half of next year to make way for a new property development, according to a company official.
Greenbelt 1, located on the corner of Paseo de Roxas and Legazpi Street in Makati City, has been a prominent landmark since it opened in 1988. However, the property owners have decided that the current setup is no longer efficient, considering the advancements in the retail industry. The subsequent Greenbelt phases, which include Greenbelt 2 to 5, offer more retail space and facilities for multi-use developments.
In order to maximize the commercial space in Makati, Ayala Land plans to tear down the old mall and replace it with a modern complex. The redevelopment will feature shopping areas, a park, office spaces, a hotel, and a larger cinema complex. The existing Greenbelt Park and chapel will remain intact.
Tenants of Greenbelt 1 have already been informed by Ayala Land about the closure, which is expected to take place in the first half of 2024. They will need to relocate temporarily until the new complex is completed.
—Daxim L. Lucas
‘Frasco fiasco’ aftermath
The Department of Tourism is working on damage control efforts following the failed Love the Philippines campaign.
Sources reveal that officials are pressuring private tourism associations in Cebu and other provinces to release statements supporting Tourism Secretary Christina Frasco. Local government executives in Cebu, led by Governor Gwendolyn Fiel Garcia, have already expressed their support for Frasco.
Concerns have been raised about potential congressional hearings and the negative impact they could have on Frasco. Some private tourism stakeholders are unhappy with the request, as they were not consulted about the new campaign slogan. However, others may be convinced to support Frasco in exchange for future favors.
It is important to not only love the Philippines, but to also support the tourism chief.
—Miguel R. Camus INQ
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
Denial of responsibility! Samachar Central is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
