To put things in perspective, posted below is an excerpt from the PNA news report. Some parts in boldface…
The tourism sector is the second highest driver for economic growth during the first half of the year, a result of President Ferdinand R. Marcos Jr.’s focus on the industry.
Department of Tourism Secretary Cristina Frasco said on Saturday that tourism has so far contributed PHP404 billion to the economy and has reached 99 percent of its goal of 4.8 million international arrivals for 2023.
The improving employment rate is the top contributor to the economy while the increase in investment registration activities and students coming back to school follow tourism.
“I am also here to deliver the good news under the President’s focus of prioritizing tourism. Tourism has emerged as one of the strongest pillars of our economy. According to our national economic managers, tourism is the second top highest driver for economic growth in the first six months of this year,” Frasco said during the opening of the 2nd North Luzon Tourism Expo at Camp John Hay in Baguio City.
She said for Marcos, tourism is a priority “and for that very reason, we have seen the strides we have accomplished in a year.”
Among the government support for the tourism industry are at least 158 kilometers of roads rehabilitated and in 2024, there will be more improvements in airports, Frasco said.
“The flight portfolio of our major international gateways is gradually recovering and we have increased the tourism experience across the country by building tourist rest areas (TRA) across Luzon, Visayas, and Mindanao,” Frasco said.
She said the TRA is one of the ways the government wants to extend its welcome to tourists by giving them a special experience.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that the DOT has done a good job making tourism a more vibrant and more economic sector this year? Has the increase of foreign tourist arrivals this year benefited your business? Do you think that the foreign tourist arrivals will reach 5,000,000 by the end of 2023?
Recently, the Business Mirror published a news article revealing that more than P170 million worth of coins have been deposited in the many coin deposit machines (CODMs) of the Bangko Sentral ng Pilipinas (BSP) nationwide as of October 30, 2023. Based on recent findings, more people and business representatives have been lining up at their local CODM to deposit their excess coins and turn it into added value into their GCash accounts or PayMaya accounts, or use the value for shopping vouchers (accepted by The SM Store). Previously the figure was revealed at P115 million and this major project by the BSP launched this past June.
To put things in perspective, posted below is an excerpt from the Business Mirror news article. Some parts in boldface…
THE coin deposit machines (CoDMs) have collected an average of a million pesos per day since June, according to the latest data from the Bangko Sentral ng Pilipinas (BSP), which rolled out the program four months ago to ease the coin shortage and cut government losses in minting coins.
As of October 30, the CoDM collections have reached P171.09 million since June 20. This means an average of P1.29 million worth of coins every day for a period of 133 days.
As of October 20, only 10 days prior, collections already reached P146.78 million. This means, in just 10 days, some P25.31 million or an addition of P2.53 million worth of coins were collected per day.
The data obtained by BusinessMirror also showed that a total of 59.8 million coins were deposited in CoDMs as of October 30.
This means an average of 449,607 coins were deposited into the 25 CoDMs located in various malls and groceries in Metro Manila. This translates to about 17,984 coins per machine everyday.
These coins include the P20, P10, P5, P1, 25 centavo, 10 centavo, 5 centavo, and 1 centavo. These are converted into e-wallets and shopping vouchers.
Based on the data, more than half of the coins deposited in CoDMs are P1 and 25 centavo coins. A total of 22.96 million P1 coins were deposited between June 20 and October 30 while 13.79 million 25 centavo coins were received by the machines during the period.
This was followed by the P5 coin with 12.89 million pieces; P10 coin, 3.02 million pieces; 5 centavo coin, 2.73 million pieces; P20 coin, 2.49 million pieces; and P10 centavo coin, 1.88 million pieces. The lowest was the 1 centavo coin with only 47,496 pieces.
In the data as of October 20, the largest sum ever deposited in a single transaction was P105,818. This was deposited on September 30 in an SM-owned location.
The highest volume of coins deposited during the period reached 33,794 pieces which was received in a CoDM in another SM-owned property last September 3.
The data as of October 20, also showed almost all or 97.63 percent of the amount of the coins collected by CoDMs were converted into GCash credits. The total amount converted into GCash reached P142.33 million as of October 20.
In terms of coin volume, GCash also converted the most into credits with 51.13 million coins or 97.63 percent of the total. This covered a total of 50,225 transactions or 97.04 percent of all CoDM transactions.
In June, BSP rolled out the CoDMs to alleviate the coin shortage in the country and cut the government’s losses in minting coins.
Former BSP Governor Felipe M. Medalla said the Philippines currently has a problem with coins, given that its coins per capita have more than doubled in less than a decade.
There are 39 billion pieces of coins in circulation in the country. At 110 million Filipinos, this translates to around 355 coins per capita which is a 195 percent growth from the 120 coins per capita eight years ago.
Let me end this piece by asking you readers: What do you think about this recent development? Were you able to deposit your excess coins into a BSP cash deposit machine in your city? Was there a time when you had to wait long in the line at a BSP cash deposit machine because one of the customers ahead of you brought several jars full of coins with them for deposit? Do you think having one BSP CODM per shopping mall is sufficient to meet local customers’ need for coin depositing? When waiting for your turn at the BSP CODM takes too long, do you take your coins with you to the bank to deposit into your personal account?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Recently in the United States, President Ferdinand “Bongbong” Marcos, Jr., met with members of the American business community and enticed them to invest in the Philippines stating that a wealth of opportunity awaits them and the country is set to take off as a major Asian investment destination, according to a news article published by the Philippine News Agency (PNA).
To put things in perspective, posted below is an excerpt from the PNA news article. Some parts in boldface…
The Philippines is all set to become the “leading” investment destination in Asia, President Ferdinand R. Marcos Jr. said Thursday (Manila time).
“With a solid reform agenda and unabating growth amid headwinds, the Philippines is ready to take off as a leading investment hub in Asia,” Marcos said during the Philippine Economic Briefing (PEB) in San Francisco, California, as he enticed the business community in the United States (US) to invest in the Philippines.
“A wealth of opportunity awaits you in the Philippines, and we are ready to explore new horizons with your investments in the coming years,” he added.
Marcos assured the US businesses of a favorable business environment in the Philippines, adding that his administration is committed to promoting high-value investments.
He said an influx of highly-desirable investments in strategic sectors of the Philippine economy is expected, considering the amendments to the Public Service Act, Foreign Investments Act, Retail Trade Liberalization Act and the Implementing Rules and Regulations of the Renewable Energy Act.
He noted that the government has also introduced reforms to the Philippines’ fiscal incentives structure through the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act to attract both domestic and global firms to invest in strategically important sectors.
“Investments in rural areas and highly-advanced and technology-enabled projects and activities are given top priority and, consequently, greater and longer incentives,” Marcos said.
“Investments in the digital space are also highly prioritized. Incentives are given to projects covering research and development and those adopting advanced digital production technologies such as, for example, artificial intelligence, additive manufacturing, data analytics, cloud computing, and nanotechnology,” he added.
Marcos said the public-private partnerships (PPP) framework has also been modified to simplify the approval processes, ensure the viability and bankability of PPP projects, cut red tape, and pave the way for quality infrastructure development.
“These reforms support the Philippines’ massive infrastructure drive. We are prioritizing the implementation of 197 infrastructure flagship projects worth around USD155 billion, with a sharp focus on upgrading physical and digital connectivity, water, agriculture, health, transport, and energy,” he said.
Let me end this piece by asking you readers: What do you think about this recent development? Do you think a huge amount of investments from American businesses into the Philippines will be realized in due time? What do you think the government should do to keep attracting more foreign investors as the Philippines is now in the post-pandemic age?
NOTE: Shortly after the launch of Mardi Gras Bazaar, Madison Galeries renamed it into Mardi Gras Warehouse Sale which had its last sale on December 2 and 3, 2023. The previous announced schedule of Mardi Gras Bazaar set for November 18 to December 31, 2023, no longer matters.
It has finally happened and already a lot of people have joined in for their shopping needs or purposes. I’m talking about the latest Mardi Gras Bazaar which officially started this morning at the 3rd floor of Madison Galeries along Don Jesus Boulevard, Alabang Hills, Barangay Cupang, Muntinlupa City, and I personally visited and bought some nice things with the Christmas season in mind.
Mardi Gras Bazaar this year is happening at the 3rd floor of Madison Galeries. If you go further in, there is a lot of space inside with all the products for sale.
Also taking place right now is the Christmas Sale of Oriental Merchants at the 4th floor of the same mall.
For the newcomers reading this, the Mardi Gras Bazaar this year will last until December 31, 2023 with a schedule of 10AM to 8:30 PM. In my personal experience, this is my 2nd time to attend the bazaar at Madison Galeries and it also marked the first time in four years since I last attended it (read my 2019 Mardi Gras Bazaar experience by clicking here).
More on the ongoing Mardi Gras Bazaar, check out the pictures I posted below and may these be a reference for you all…
A wide shot of the venue of the bazaar. There is a lot more products not seen in this image.
Looking for a new bicycle? Mardi Gras Bazaar has it!
The return of Mardi Gras Bazaar is indeed special. So many products with attractive prices around.
In the background are the counters where shoppers lineup with their selected products. Payments by cash, GCash (e-wallet) and credit cards are accepted.
In my experience, the process has been orderly.
For those of you who need directions to get to Madison Galeries for the bazaar, posted below is a screenshot from the social media post of the mall…
A useful reference for you all.
As we now live in the post-pandemic age, the newest Mardi Gras Bazaar is an important event not simply because it offers shoppers opportunities to acquire good items at discounted rates but also because it contributes to the normalization of life after the depression of COVID-19.
That being said, I encourage you my readers to take the opportunity to come to Madison Galeries and join the Mardi Gras Bazaar while there is still time. I encourage you also tell your neighbors and friends in our communities about it.
For your reference, this was at the ground floor of Madison Galeries along Don Jesus Boulevard.
For more information about Mardi Gras Bazaar (2023) and other activities at Madison Galeries, visit their Facebook page at https://www.facebook.com/MadisonGaleries
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
The economy of the Philippines grew almost 6% in the 3rd quarter (July-September 2023) which is a huge improvement over the 2nd quarter growth of 4.3%, according to a GMA Network news report.
To put things in perspective, posted below is an excerpt from the GMA Network news report. Some parts in boldface…
The Philippine economy regained its footing in the third quarter of 2023, following a slowdown seen in the previous quarter, the Philippine Statistics Authority (PSA) reported on Thursday.
The economy, as measured by gross domestic product (GDP) or the total value of goods and services produced in a period, grew by 5.9% during the July to September 2023 period, PSA chief and National Statistician Claire Dennis Mapa said at a press conference.
This is faster than the 4.3% growth rate seen in the second quarter of the year —its slowest pace in nine quarters since the country entered the positive territory in the middle of 2021 following a pandemic-induced recession.
“We are pleased to announce that the Philippine economy continues to grow despite several major headwinds that we have experienced and continue to experience,” National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said.
“This performance makes our economy the fastest among the major emerging economies in Asia that have released their third-quarter 2023 GDP growth: Vietnam at 5.3%, Indonesia and China at 4.9%, and Malaysia at 3.3%,” the NEDA chief said.
The third quarter economic performance brought the year-to-date or the January to September 2023 GDP growth rate to 5.5%.
Let me end this piece by asking you readers: What do you think about this recent development? Do you think there is still a chance for the Philippine economy to accelerate in the 4th quarter and achieve a full-year economic growth of at least 6%?
Recently the City Government of Muntinlupa was recognized and commended by the Philippine Chamber of Commerce and Industry (PCCI) and the Department of the Interior and Local Government (DILG), according to a Manila Bulletin news report.
To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…
The Muntinlupa City government earned recognition and commendations from the Philippine Chamber of Commerce and Industry (PCCI) and the Department of the Interior and Local Government (DILG).
The PCCI gave the Muntinlupa City government a special recognition at the 2023 Most Business-Friendly Local Government Unit Awards.
The city government also received eight major commendations at the 2023 Urban Governance Exemplar Awards organized by DILG.
“Indeed, we have many, many reasons to be proud of our city. But most of all, we are very grateful for the validation of our efforts to make life better for all Muntinlupeños. Mabuhay tayo!” said Mayor Ruffy Biazon.
The city government earned the special citation from the PCCI for its continuing commitment to excellence in business transactions, such as the multi-awarded Business One-Stop Shop (BOSS) system.
It can be recalled that Muntinlupa has been recognized several times by the PCCI as the Most Business-Friendly LGU in the country for its innovative and people-centric approach to business transactions.
Let me end this piece by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, are you delighted over what the City Government achieved with regards to public service, business-friendliness and efficiency?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
To put things in perspective, posted below is an excerpt from the GMA Network news report. Some parts in boldface…
President Ferdinand “Bongbong” Marcos Jr. said Monday that the implementing rules and regulations of the Maharlika Investment Fund (MIF) have been finalized, weeks after he said its implementation was suspended.
“The Investment Rules and Regulations of Maharlika Investment Fund have been finalized,” Marcos said on Instagram.
“Upon our approval, we’ll swiftly establish the corporate structure, getting the MIF up and running,” he added.
The IRR, which would spell the beginning of MIF’s operationalization, was released in August. Marcos announced the suspension of its implementation “pending further study” on October 18.
Before leaving for Saudi Arabia last month, Marcos clarified that the MIF was not put on hold, saying the government was still working to have it operational within the year.
“We are, the organization of the Maharlika Fund proceeds apace, and what I have done though, is that we have found more improvements we can make, specifically to the organizational structure of the Maharlika Fund,” the President had said.
Marcos had said the suspension of the IRR should not be misinterpreted as a judgement of rightness or wrongness of the MIF.
he President also maintained that economic managers and “personalities who will actually be involved in the fund” had been consulted regarding the MIF.
Marcos signed into law Republic Act No. 11954 or the Maharlika Investment Fund (MIF) Act of 2023 in July, with the aim to tap state assets for investment ventures to generate additional public funds.
The law creates the Maharlika Investment Corp. (MIC), a government-owned company that will manage the MIF — a pool of funds sourced from state-run financial institutions that will be invested in high-impact projects, real estate, as well as in financial instruments.
Under the law, the initial capitalization of the MIF would be sourced from Landbank at P50 billion, DBP at P25 billion, and the national government at P50 billion.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that there is no stopping the implementation of the Maharlika Investment Fund in the near-future?
Even though it looks like that economic growth for the Philippines this year will end up short of 7%, the economic managers of the Marcos administration expect revenue collections to exceed the target for 2023, according to a GMA Network news report.
To put things in perspective, posted below is an excerpt from the GMA Network news report. Some parts in boldface…
The economic managers of the Marcos administration are expecting the government revenue collections this year to exceed target amid measures to improve tax administration and collection efficiency.
In a statement following a special coordination committee meeting on Friday, the Development Budget Coordination Committee (DBCC) said the “emerging total revenue collection for 2023 is estimated to be P3.84 trillion to P3.90 trillion.”
The projected revenue collection for the entire year is above the P3.73-trillion target set earlier by the DBCC.
In April, the economic managers set the revenue goal at P3.73 trillion this year, P4.184 trillion in 2024, P4.692 trillion in 2025, P5.255 trillion in 2026, P5.895 trillion in 2027, and P6.621 trillion in 2028.
The DBCC, chaired by the Budget chief, is composed of the secretaries of National Economic and Development Authority (NEDA), Finance (DOF), as well as the governor of the Bangko Sentral ng Pilipinas (BSP).
The DBCC, likewise, is expecting tax revenues to clock in at P3.50 trillion to P3.55 trillion, surpassing the target by about 15%.
The above-target revenue project resulted from the higher actual collections in the first nine months of 2023, which reached P2.84 trillion, up 6.8% year-on-year and exceeding the target for the period by 3%.
This, as both tax and non-tax revenues registered positive growth at 6.4% and 10.5%, respectively, “owing to the higher collections from the Bureau of Customs (BOC) and non-tax revenues of P152.57 billion.”
The DBCC said the Bureau of Internal Revenue (BIR) and the BOC are implementing several reforms to strengthen tax administration and enhance revenue collection, which include digitalization programs intended to eliminate corruption, increase transparency, and improve the ease of paying taxes.
Tax reform measures – Moreover, the economic managers said they will work closely with Congress for the passage of the previous administration’s remaining tax reforms on passive income and financial intermediaries taxation and real property valuation and assessment, as well as new tax measures.
“These include the excise tax on single-use plastics (SUPs), rationalization of the mining fiscal regime, motor-vehicle road users’ tax, excise tax on sweetened beverages and junk foods, tax on pre-mixed alcohol, value-added tax (VAT) on digital service providers, carbon taxation, capital market development bill, and the military and uniformed personnel (MUP) pension reform bill,” the DBCC said.
Meanwhile, the national government’s disbursement accelerated significantly from 93.4% of the program as of June 2023 to 98.9% as of September.
“This was mainly driven by the robust disbursement in the third quarter, reaching P3.82 trillion as of the end of September,” the economic managers said.
Let me end this piece by asking you readers: What is your reaction to this recent development? Do you think that government collections will exceed the 2023 revenue target?
Those of you who have been engaging with online selling, you better brace yourselves as the Bureau of Internal Revenue (BIR) hopes to begin imposing a creditable withholding tax before December 2023, according to a BusinessWorld news report. Specifically, this move applies on partner-merchants of online platforms.
To put things in perspective, posted below is an excerpt from the BusinessWorld news article. Some parts in boldface…
THE BUREAU of Internal Revenue (BIR) is hoping to start imposing a creditable withholding tax on partner-merchants of online platforms before the start of December, an official said.
“The process could be shorter, and we might just come up with it before the start of December. It will not be unreasonable to expect it before the start of December,” BIR Assistant Commissioner Jethro M. Sabariaga told reporters on the sidelines of the SGV Tax Symposium last week.
“The longer you withhold this release, you’re hobbling a significant portion of today’s economic transactions,” he added.
The BIR last week released the final draft of the amendments to Revenue Regulation No. 2-98 which currently does not cover income payments by online platform providers.
Under the final draft, the BIR would impose a withholding tax of 1% on one half of the gross remittances by domestic e-marketplace operators to the online merchants for the goods or services sold through their facility.
However, the withholding tax will not apply if annual total gross remittances to an online merchant for the past taxable year has not exceeded P250,000, or if the cumulative gross remittances to an online merchant in a taxable year has not yet exceeded P250,000.
Also exempted are online merchants who are part of a cooperative duly registered with the BIR with a valid Certificate of Tax Exemption.
Mr. Sabariaga said the BIR took note of the suggestions and objections to the draft rules raised by affected sectors. The BIR’s deadline for comments from stakeholders on the final draft ended on Oct. 27.
“This will all be taken into consideration and then be studied and then the final draft will be released and exposed,” he said.
Since then, Mr. Sabariaga said the agency consulted with various industries to come up with the latest version of the draft.
“It’s the first exposition of the draft, you have to consider the various industries, the applicability of the withholding (tax) on the various industries, the rates, the economic provisions of it,” he added
The BIR has been seeking ways to tax the digital economy, particularly as e-commerce surged during the pandemic.
In 2022, the digital economy contributed P2.08 trillion, equivalent to 9.4% of gross domestic product. Of this, e-commerce had the highest growth at 26.5%, with its share to the economy reaching 20% or P416.12 billion.
Let me end this piece by asking you readers: What is your reaction to this recent development? If you have been regularly selling online, do you think you will be covered by the planned withholding tax by the BIR? Do you have all financial and legal records prepared?
For decades now, I have been living in Alabang and I witnessed how much Muntinlupa City modernized along the way. Bordering Barangay Ayala Alabang is Filinvest City (formerly called Filinvest Corporate City) which itself is home to several business or facilities such as the Filinvest Tent, Commercenter, Acacia Hotel Manila, Crimson Hotel, Westgate and, of course, the wildly popular place to be in – Festival Mall.
For the newcomers reading this, Festival Mall opened in May 1998 with its initial name Festival Supermall. Way back then, out of pure curiosity, I entered the mall for the first-time ever during its soft opening on May 1, 1998 (Labor Day here in the Philippines) as I was already looking for a new place and new discoveries at a time when I got tired of Alabang Town Center (ATC).
Being very new back then, Festival Mall’s presence of retailers or tenants was not yet dynamic as there were still businesses inside that could not open in time for the mall’s opening. I do remember walking down seeing lots of vacant retail spots covered with signs such as “opening soon”, “coming soon” and the like. Back in those days, the Philippine economy and society itself were dampened by the 1997 Asian Financial Crisis.
As the months passed by, more businesses opened and Festival Mall’s early attractions include the X-Site Amusement Center (which already had the indoor roller coaster) and, of course, the brand new cinemas which had several screens operating at a very spacious area on the top floor. I still remember seeing lots of people lining up for tickets and seats to watch Armageddon which ended up as the highest grossing movie of the world in 1998.
Indeed, for more than a decade, Festival Mall’s original cinemas became a favorite destination of mine to watch movies in Alabang and I definitely was not alone. I also remember the times when the said cinemas attracted a whole lot of moviegoers when the annual Metro Manila Film Festival’s (MMFF) opening day (every December 25) happened resulting in long lines. Watch the YouTube videos below…
As you can see in the above videos, Festival Mall’s original cinemas was a hot spot for moviegoers. It should be noted that the mall is strategically located in close proximity to the Alabang Viaduct and the South Luzon Expressway (SLEX) which ensures visibility to motorists and accessibility to commuters on a daily basis. The old cinemas were also a hot spot for a variety of small businesses selling different kinds of food and drinks to moviegoers and others who just passed by.
Festival Mall at 25
This past May, Festival Mall turned 25 and its anniversary was highlighted with special events as well and publicity through the media. There were these Festival Mall 25th anniversary feature articles that got published in different newspapers almost simultaneously. In the commemorative article that got published in the Manila Bulletin, President and CEO of Filinvest Development Corporation Josephine Gotianun Yap was quoted which goes as follows in the excerpt below. Some parts in boldface…
“We would not be where we are today without the unwavering support of our customers, merchants, suppliers, and employees who have journeyed with us through the years. It is humbling to think that when we first opened the mall, we only had 30 stores and no anchor supermarket. But thousands of visitors came on our first day, attracted by our amusement centers, cinemas, and food court. And now the mall has 800 tenants and eight leading anchor stores. We value our collaboration with major retailers, which has enabled us to bring together SaveMore, Ace Hardware, Robinson’s Department Store, Handyman, Shopwise, H&M, Decathlon, and Landmark all under one roof. As we build on its strong foundations for the future, we see Festival Mall continuing to serve as a place where time stops for making memories with family and friends,”
As seen above, the Filinvest Development Corporation executive clearly referred to the original cinemas which was one of the early attractions of Festival Mall way back in 1998. As mentioned earlier, Festival Mall today has more modern cinemas located at the expanded area on the same floor but several meters away from the original cinemas. So how does Festival Mall’s original cinemas look like nowadays? Watch the video below…
Yes, indeed the mall’s original cinemas have turned depressing. There are much less customers who pass by the area and many of the businesses that operated within have closed down! As I personally found out, Festival Mall is still using a few screens at the old cinemas for moviegoers while leaving the many others closed and left in the dark. If you think about it carefully, what does the mall management have in mind with regards to all of those cinema seats, sound systems, projectors, screens and other pieces of equipment inside each and every closed screen of the original cinemas?
A closed screen at one end of the original cinemas of Festival Mall. Just imagine what is left of all the hardware (examples: projectors and speakers) and seats inside.
This was a premium place to watch movies at. It had more comfortable seats and better equipment that made the cinematic experience more immersive. It was here where I saw 2001’s Final Fantasy: The Spirits Within.
This is where I used to buy movie tickets for many years. For some time now, the selling of movie tickets here has stopped. To buy tickets, you have to go to the modern cinemas of the mall several meters away by foot at the same floor.
Apart from seeing more of the screens of the original cinemas closed down, the number of small-time businesses that sold different kinds of food and drinks are also gone which is depressing. Those businesses offered moviegoers different choices of what to eat or drink apart from the usual popcorn and drinks sold by the cinema’s concessionaires. I do remember a certain business joint that sold really good coffee (both hot and cold) that is also affordable.
There used to be different kinds of small business joints that sold a variety of food and drinks located on the floor spots at the original cinemas area. Those businesses have since closed down and left.
I remember the times I bought popcorn and drinks at this place before watching a movie. Now there are no food, no drinks and no people selling to customers anymore.
With the way things are right now, walking through the original cinemas area of Festival Mall is lonely and depressing to do. The area is almost lifeless and it easily is the saddest place inside the mall which itself has become a major attraction for shoppers and families. I can only wonder if Festival Mall’s management has any plan to revive the original cinemas area. Will they someday renovate at least a few of the screens and install brand new seats and other equipment to accommodate more moviegoers? Do they plan to attract new businesses to occupy the vacant commercial spaces and floor spaces near the old cinemas?
It would be nice to know if Festival Mall’s management or Filinvest itself has any plan to revive commerce at the original cinemas area which is now the saddest and loneliest part of the mall.
To be very clear with you all reading this, I never worked for a shopping mall nor have I ever worked in the movie theater business. I am a long-time resident of Alabang who often visits Festival Mall for purchasing needed items, dining and availing of services. Watching movies at Festival Mall used to be a big reason for me to spend time at the mall. I know for a fact that operating movie theaters is difficult and attracting people to watch movies on the big screen is tougher because of streaming. It does not help that the COVID-19 pandemic convinced people that watching new movies at home via streaming is the new standard which also made them think that movie theaters are unnecessary.
As a movie enthusiast, I can say out loud that watching a movie inside the cinema is still the best and most definitive way to enjoy watching. The movie theater experience can never be matched by streaming nor could the biggest HDTV at home could ever come close to the size and visual impact of a cinema screen. That being said, I can only hope that Festival Mall could someday revive the movie experience and commerce at their original cinemas area. They already have the modern cinemas at the expanded area but those are only 4 screens.
If you are living here in South Metro Manila and you have been to Festival Mall several times before, what do you think the mall management should do about their old cinemas? Is Festival Mall your favorite place to watch movies in? Do you think that hosting multiple film festivals – both foreign and domestic – each year would justify renovating the old cinemas of the mall?
Author Carlo Carrasco 