Riverbanks Center
Encyclopedia
Barangka (Marikina)
Barangka is one of sixteen barangays in Marikina City, and one of the barangays in 1st District of Marikina. It is also one of the oldest barangay founded in Marikina City....
, Marikina City
Marikina City
Marikina, officially the City of Marikina, known as the Shoe Capital of the Philippines, was former capital of the province of Manila during the declaration of Philippine Independence and one of the sixteen cities within the Manila Metropolitan Area. Marikina is part of Eastern Manila District of...
, Metro Manila
Metro Manila
Metropolitan Manila , the National Capital Region , or simply Metro Manila, is the metropolitan region encompassing the City of Manila and its surrounding areas in the Philippines...
, near the Marcos Bridge over the Marikina River
Marikina River
The San Mateo - Marikina River is a main river system in Eastern Metro Manila, Philippines. A river stretching from Rodriguez, Rizal, to Pasig City that connects to Pasig River as major tributary near Napindan Area in Pasig City.San Mateo - Marikina River used to be an important transport route...
.
History
Riverbanks is located on a 14 hectares (34.6 acre) site which formerly held a Universal Textile Mills Factory. The Riverbanks Development Corporation acquired the site in 1995. It opened to the public in April 1999.The self-proclaimed world's largest pair of shoes are on display at Riverbank Center. 5.29 metres (17.4 ft) long and 2.37 metres (7.8 ft) wide, equivalent to a French shoe size
Shoe size
A shoe size is an alphanumerical indication of the fitting size of a shoe for a person. Often it just consists of a number indicating the length because many shoemakers only provide a standard width for economic reasons....
of 753, they were created over 77 days between August 5 and October 21, 2002 by Marikina City shoe industry businesspeople. The creators attempted to have it certified for the 2004 edition of the Guinness World Records
Guinness World Records
Guinness World Records, known until 2000 as The Guinness Book of Records , is a reference book published annually, containing a collection of world records, both human achievements and the extremes of the natural world...
, but due to space limitations the alleged record was not published in the book.
Mall
The SM GroupSM Investments
SM Investments Corporation, SM Investments or SMIC is a holding company with interests in shopping mall development and management, retail, real estate development, banking and tourism. The SM Group was founded by Henry Sy, Sr...
's first Savemore market was opened at Riverbanks in 1999. By 2001, the mall had 200 tenants and had completed an expansion of the mall to offer more retail space. The mall's foot traffic grew from 24,000 people per day in 2000 to 51,000 per day (with 63,000 to 70,000 on weekends) in 2001. Later that year, Riverbanks announced another mall extension to house retail businesses which offered 24-hour opening, including fitness centers and convenience stores.
Aside from retailers and restaurants, there are educational facilities in the mall as well. The Philippine Science Centrum, an interactive museum, is located in Building D; it opened in 1990 in Pasay City
Pasay City
The City of Pasay is one of the cities and municipalities that make up Metro Manila in the Philippines. It is bordered on the north by the country's capital, Manila, to the northeast by Makati City, to the east by Taguig City, and Parañaque City to the south.Pasay City was one of the original four...
, but later moved to its present site which was donated by Riverbanks. Also in the mall is Kalayaan College, a tertiary facility founded by former University of the Philippines
University of the Philippines
The ' is the national university of the Philippines. Founded in 1908 through Act No...
president Jose V. Abueva and other former UP faculty, but it is moved to Quezon City
Quezon City
Quezon City is the former capital and the most populous city in the Philippines. Located on the island of Luzon, Quezon City is one of the cities and municipalities that make up Metro Manila, the National Capital Region. The city was named after Manuel L...
.
Offices
Riverbanks Center Towers 1 and 2 are listed as approved IT Centers by the Philippine Economic Zone Authority, making export-oriented companies located therein eligible for temporary tax holidayTax holiday
A tax holiday is a temporary reduction or elimination of a tax. Programs may be referred to as tax abatements, tax subsidies, tax holidays, or tax reduction programs. Governments usually create tax holidays as incentives for business investment...
, permanent reduced rate of corporate income tax, and other incentives. , it is one of only two developments in Marikina City to have this status, the other being Blue Wave-Marikina
Blue Wave-Marikina
Blue Wave-Marikina, also known as Blue Wave at Marquinton, is a mall and office complex in Marikina City, Metro Manila, developed by Federal Land. It sits on a site just off the Sumulong Highway, at the northwest corner of the intersection with Mayor Gil Fernando Avenue.-Mall:The mall is a...
IT Center. The first call center to locate in Riverbanks, and by extension the whole of Marikina City, was the NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
-listed ICT Group
ICT Group
ICT Group, Inc. was a multinational call center and outsourcing company based in the Philadelphia suburb of Newtown.During the global financial crisis of 2008–2009, it began closing call centers in the United States and Canada, and reducing staff numbers in the United Kingdom, Ireland and...
, who moved in during 2006. ICT already had offices in Makati City
Makati City
The City of Makati is one of the 17 cities that make up Metro Manila, one of the most populous metropolitan areas in the world. Makati is the financial center of the Philippines and one of the major financial, commercial and economic hubs in Asia...
and Ortigas Center
Ortigas Center
Ortigas Center is Metro Manila's second most important Philippine financial district-cum-central business district after the Makati Financial and Central Business District in Makati City. With an area of at least 100 hectares, the district is located at the boundaries of Pasig City, Mandaluyong...
since 2003 and 2004, respectively. The new ICT office initially employed 1,400 staff.
Incidents
March 2010 - a fire destroyed a branch of the Mang InasalMang Inasal
Mang Inasal is a common fast food chain in the Philippines.-History:Edgar Sia II engaged in business at twenty years of age. He opened the first branch at the Robinson's Mall Carpark-Iloilo....
chain restaurant located in the mall.