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Araneta Center Leasing FAQ's
How do you choose stores for Araneta Center?
Araneta Center has diverse properties, each with its own target market and lessee mix. Our leasing team is always on the lookout for new and unique retailers. While we are known for our department stores and broad selection of local and international retailers, we are also home to many small local lessees and dozens of local entrepreneurs who operate our Retail Merchandising Units (Carts, or "RMU"s) with our unique Specialty Leasing Program (SLP). Renting a space at the Araneta Center is easy—just submit your proposal! Your store may be just what we're looking for.
How much is the rent?
Lease rent depends on the location, size, type of store and other factors. When we identify a tenant and a suitable space, we determine what the rent is. Basically, our lessees pay a basic monthly rent plus a percentage of gross sales or a fixed minimum rent whichever is higher plus extra charges including CUSA and promotion dues. We do not quote rents until a proposal has been received and approved and a suitable space has been identified. The first step is to submit your proposal.
Do you have a wait-list?
We do not have a wait-list, but we do maintain files of prospective lessees who have submitted proposals to the Center. The proposals are kept on file for three years.
Are there any spaces available?
Although the vacancy rate at Araneta Center is low, we do have spaces available from time to time throughout the year in our three malls—Ali Mall, Gateway Mall and Farmers Plaza; plus we also have spaces available in Shopwise and Farmers Market Arcade.
I want to open my first store (or restaurant). Do I have a chance to get into Araneta Center?
While many of our retailers have multiple stores and others are part of major chains, there are quite a few Araneta Center tenants who started here. Signing a lease brings about certain obligations, commitments and some major financial responsibility, which you must be prepared to assume. If you are uncertain about making a long-term commitment and assuming the financial burden of building, merchandising and operating a store, you might consider a "temporary" or "seasonal" lease which is for a shorter term in a store which is usually already built out. For more information, contact Specialty Leasing.
I want to conduct an exhibit/bazaar within Araneta Center? How do I go about it?
Araneta Center has several areas earmarked for activities such as trade exhibits from the different Philippine regions, uniquely themed bazaars, job fairs and the like.
- Generally, exhibit areas are for BIDDING among accredited organizers or parties. Submit the required documents to Araneta Center Leasing department for accreditation and bidding procedures.
- The Trade Hall located on the third level of Gateway Mall is the area dedicated to themed exhibits and bazaars. Submit a concept paper with a list of products and/or services together with the planned event date. Once approved, our Leasing Team will proceed with rent negotiations and processing of your application.
As part of the redevelopment of the Araneta Center, I can see offices and call centers open or soon to open. Can you give me more information about this?
As an answer to the growing Information Technology and Business Process Outsourcing (BPO) industry in the country today, Araneta Center is developing its own Cyber Park. The Cyber Park, which is poised to become the busiest technology hub due to its prime location, takes up eight hectares of prime space at the heart of the Araneta Center, consisting of modern 4-6 storey office buildings.
Araneta Center Cyber Park recently welcomed its first tenant in the complex, APAC Customer Services Inc., who has started operations last March. APAC is the 2nd BPO to take up offices at the Center, the first one being Accenture, which has its offices at Gateway Tower 1.
Meanwhile, another BPO giant is set to make Araneta Center its home. Advanced Contact Solutions, the first and only listed call center in the Philippine Stock Exchange, opens its sixth call center facility in the country at the Old Rustans Superstore Building by June 2007. You may contact our Leasing Department for more information about the Araneta Center Cyber Park.
