In Cebu, the term "commercial space" refers to real estate for rent or for lease that is suitable for use as the premises of a business. As such, it can mean a space at a mall, office space in a high-rise office tower, or the ground floor space suitable for a store.
The phrase "location, location, location," is true for any kind of real estate, but especially for commercial spaces used by businesses.
There are essentially two malls where you can get guaranteed traffic for your commercial space, Ayala Center and SM City. Of course, the rent at these malls is much higher than elsewhere. In some cases, the mall will take a cut of the profits in addition to a fixed rent. There are a number of other, newer malls, but they lack the pulling power of the two big malls, perhaps because they have not attained a critical mass of shops.
There are any number of commercial spaces available throughout Metro Cebu.
These days, any business (other than a business dealing in basic commodoties such as dry goods or agricultural feeds) needs to take parking into consideration. Technically, building ordinances require new buildings to have sufficient parking spaces, but this is not always the case in practice. Consequently, at many commercial spaces the patrons of the business are forced to park illegally, or far away. This is often a crucial issue for the survival of the business, so when choosing a commercial space parking should be one of the top considerations to take into account. This has always been true in recent years, but especially since the mayor has implemented a strict policy towing or immobilizing (using the Denver boot) illegally parked cars.
Consequently, one of the best places to find a commercial space is along one of the wide boulevards in Cebu and Mandaue. Parking is not a problem, and, because of this, many businesses targetted at the same clientele (people who drive) will be in the proximity. This explains the migration of businesses in the service industry from the downtown and uptown area to the wide avenues, and the building boom in commercial properties along these thoroughfares.
If you are planning a retail business in the service industry, and rely on walk-in customers for the bulk of your business, it is probably a smart choice to not locate your business in the traditional commercial heart of the city, but in the new upscale areas stretching from Lahug to Banilad and north towards Mactan.
