J Centre 70% occupied: developer

By Katlene O. Cacho
Sunday, July 17, 2011

ONE month after its launching in the market, Everjust Realty Development Corp. reported that its flagship project, J Centre, is now 70 percent occupied.

A top official said the completion of its mall component is also within the timeline, which is set to open in a few months.

Everjust corporate secretary Jerry Uy said in a recent interview that the mall has already closed several deals for store outlets opening in J Centre. He said that aside from well-known clothing brands and food outlets, J Centre will also house new tenants in Cebu.

Tous Le Jours, a French-Asian bakery, and Kotobuki-ya, a ramen house from Japan, are two of the new food outlets to open in J Centre, Uy said.

J Centre is a five-year development program that will consist of a J Mall, hotel, service apartments and a contact center. The project sits on a 3.2-hectare property on A.S. Fortuna St. in Mandaue.

The first phase of the construction will be the three-storey J Mall, which will house more than 300 shops, with SM Hypermarket as its anchor store. The mall will also house two theaters and a convention facility.

Uy said they are excited about the completion of the J Mall, as this would offer another shopping destination in Cebu. “We are also now in 70 percent completion,” he said.

As for the BPO locators, Uy reported that the company is in negotiations with four BPO companies that have expressed interest in expanding their operations. He said these companies are already awaiting approval from their top management.

As for the project’s hotel component, Uy reported that they are still in negotiation with an international hotel chain but they are hoping to begin construction early next year. Uy said they will be positioning the facility as a three-star business hotel.

Everjust is the real estate development arm of Profood International Corp., the country’s largest manufacturer and exporter of various dried fruit, preserves, purees, concentrates, and juices.

The Uy family has recently diversified its business by venturing into real estate. The family said it recognized the booming industries of retail, tourism and real estate in Cebu.

Uy said that one good thing about diversifying businesses is that you also have other outlets to help strengthen the company’s portfolio.

“In our case, our venture into the real estate and retail is just of the right timing,” he said.

While there is a fast development of projects in the private sector, Uy said that what the local government can do is speed up their development like improving infrastructure, among others.

“The developments of the public sector should also be at par with the developments of the private,” Uy said.

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