Manila, Philippines—Real estate firm Cathay Land Inc. is investing P2.5 billion in the country’s first premium outlet shopping center, Acienda Designer Outlet.

The Acienda Designer Outlet, which is set to open on August 2, is only 10-minutes away from the Tagaytay City rotunda.

“With Tagaytay City being a popular destination among locals and tourists, we’re confident that they will all enjoy our promise of high-quality outlet shopping at par with what they experience abroad,” said Cathay Land President Jeffrey Ng.

He added, “Most of the major capital cities worldwide have outlet malls. Metro Manila, with its over 12 million population, is perhaps the only one that does not have an outlet.”

At Acienda Designer Outlet, the locals and tourists will enjoy shopping for designer finds in four themed sections: Italian, French, New England, and Spanish.

It will also feature a French-style food and beverage section complete with a windmill.

Ng expects that the development of other outlet malls will be duplicated across the Philippines mainly due to the rising incomes locally, remittances from abroad, and tourist arrivals.

In fact, Cathay Land, together with London’s Freeport Retail, is now planning for a second outlet mall.