Eugene Erik Lim —FROM TOP LINE WEBSITE
The property venture of Cebu-based Top Line Business Development Corp. is close to completing a mixed-use development in the city to help the local government provide jobs and access to consumer goods.
Top Line on Thursday said in a statement that its affiliate, Vikingland Corp., had topped off Bay Mall, making it the first business process outsourcing (BPO)-centric mall in Northern Cebu.
According to the conglomerate, Bay Mall, a public-private partnership between Top Line and the Liloan municipal government, is expected to open in 2025. It will be connected to Top Line’s Pier 88 smart port to help increase foot traffic in both facilities.
READ: Fuel distribution play: PSE oks P3.16-B Top Line IPO
Top Line president and CEO Eugene Erik Lim said the third floor of Bay Mall would be a dedicated information technology-BPO space.
“If you want to work in a BPO company, which is usually all in Cebu City, those in Northern Cebu will now have the option to work here which is a game-changer moving forward,” Lim said in a statement.
The first two floors of Bay Mall will house Robinsons Supermarket, its anchor tenant, as well as food stations, specialty kiosks, wellness centers, financial services and clothing stores.
Launched in 2022, Bay Mall is currently being developed on land owned by the municipality of Liloan.
Top Line, whose main business is fuel distribution, noted that its partnership with the local government would drive development, provide employment and improve access to consumer goods.
This comes amid Top Line’s move to postpone its P3.16-billion initial public offering (IPO) to accommodate potential institutional investors.
The company plans to offer 3.63 billion primary common shares for up to P0.78 each. An extra 368.31 million secondary common shares will be offered in case of high demand.
Top Line will use part of the IPO proceeds to build fuel depots in Mactan and in Bohol province with a combined capacity of 30 million liters.
It will likewise purchase fuel tankers and tank trucks, and construct 10 light fuel service stations as part of its expansion plan. —Meg J. Adonis INQ