When Fiesta Carnival opened in 1971 in Cubao – back then a suburb of Manila – it was the first indoor amusement park in the Philippines, and probably Asia. At a time when the country was the most advanced in the region J. Amado Araneta, a visionary and a great believer in family entertainment, decided to complement his Araneta Coliseum (home of the famous Thrilla in Manila boxing match between Muhammad Ali and Joe Frazier in 1975), New Frontier Cinema (Asia’s largest at the time) and ice skating rink with an indoor leisure and amusement center covering close to two hectares.
By the 1990’s, Fiesta Carnival began to lose its appeal among the children who have become more enamored with mall-based entertainment, computer gaming, not to mention the appeal of grander amusement parks especially with the opening of Laguna-based Enchanted Kingdom during that time. Fiesta Carnival soon degenerated as a run-down amusement park that was plagued by incidents of theft and other petty crimes. Jorge Araneta decides to close the park and bring Shopwise supermarket in the building. The ice skating rink was also closed.
Fast forward another 20 years and things are changing, back to entertainment. Earlier this year the New Frontier Cinema reopened as the KIA Theatre and is now welcoming some of the hottest bands on tour in the Philippines, Art in Island – off the trendy Cubao Expo – is the country’s biggest trick art museum and Araneta Centre is considering a new-generation indoor family entertainment centre for the extension of its Gateway Mall.
Does this mean we are (finally) seeing the end of the Retail is King era that saw retail driving all property development? Times are definitely different with online retail affecting the expectations of mall visitors. Lifestyle, community and family entertainment are now the key words we hear from every property developer.
I believe that those who understand it and truly believe in it, like Jorge Araneta, will be the big winners of tomorrow, because what Fiesta Carnival brought to many families are collective memories that will never be forgotten. And that is what successful destinations are made of. #jointhemovement!