Shopping Centers Today International

JAN 2016

Shopping Centers Today is the news magazine of the International Council of Shopping Centers (ICSC)

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J a n u a r y 2 0 1 6 / S c t 15 Mall project activity is buzzing in the Philippines, in the province of Cebu. SM Prime Holdings opened its 430,000 square-meter (about 4.6 million square feet) SM Seaside City Cebu, its largest mall outside Manila. Meanwhile, Robinsons Land Corp. is building its third mall there, while Ayala Land is redeveloping Ayala Center Cebu. Locally based Gaisano, too, is upgrading shopping centers in the province. Developer Omagine is at work lining up a Qatari backer to help finance the huge mixed-use project it plans to build along the Seeb waterfront in Muscat, Oman. An unnamed Qatari bank is looking at putting some $25 million toward the first phase of the develop- ment, which is to kick off this year. The project will contain retail space, hotels, restaurants, an amphitheater, some exhibition venues and residential space, as well as a harbor and marina. The city of Sharjah, United Arab Emirates, will hold its very first shopping festival this year. The 17-day festival is to kick off March 3 at the Sharjah Expo Centre, with some 300 traders participat- ing. The neighboring city of Dubai holds a festival of its own each year. A $300 million, 6.5-acre mixed-use development is in the planning for Yangon, Myanmar. The project will feature that country's very first Imax cinema. The retail portion is a joint venture between Myanmar's CSD and Singapore-based New Asia Investments. S c t

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