MC Mall Inc., a company owned by George Yang who owns the Philippine franchise of McDonald’s, will develop a commercial complex in a 4.5-hectare property in the Ortigas financial district for P1 billion.
The project, dubbed Silver City, will be a tri-mall niche-retail commercial development concept with auto, fusion-tech and wellness malls.
Auto mall is a glass convention-type architecture, which will have 80 to 100 brand new cars on display. It will be the first to house a huge number of car manufacturers, automotive dealers, car accessories and parts dealers, other organizations involved in the automotive industry such as banks and finance services, insurance companies, sports lifestyle boutique, motorbikes and jet ski products and event center.
The lease on the auto mall would be done on a per slot basis, each costing an estimated P90,000 each month. A one-slot car display area will cover around 30 sqm.
Fusion-tech mall, meanwhile, will house a 10,000-sqm call center, surrounded by technology-oriented retail locators such as telecommunication hubs, IT and computer products, consumer electronics and appliances.
The popular Belo Medical Group has signified an interest to locate within the wellness mall.
The fusion-tech mall is slated for opening by the end of the year, while the wellness mall is expected to be completed next year.
The other major shareholder of MC Mall is businessman Jose Chung, majority owner of MC Home Depot, operator of a construction and homebuilding store chain.
Yang is also involved in other property projects. He is one of the major shareholders of Megaworld Corp.
He has taken over the Fairways and Bluewater Resort and Golf Country Club in Boracay of the Fil-Estate Group. He also has a stake in a joint venture project within the Fort Bonifacio Global City in Taguig.