Vol. XXII, No. 62 [ BusinessWorld Online ]
Tuesday, October 21, 2008 | MANILA, PHILIPPINES
DAVAO CITY — The Gaisano Grand Group of Companies has opened a new P100-million shopping mall in Panabo City, Davao del Norte to cater to its 170,000 residents. Benito S. Gaisano, chairman of the company, said said the mall is expected to generate 2,000 jobs when it starts full operation within the next few weeks especially when the 72 commercial spaces are occupied.
Panabo City Mayor Jose L. Silvosa Jr. said his office has been processing documents of some applicants. "It’s contribution for the development of the city is indeed big," said Mr. Silvosa.
The Gaisano family of Cebu has three other retail companies operating here: DSG Sons Inc. that operates Gaisano Mall of Davao; J.S. Gaisano, which has a shopping mall in nearby Tagum City and Gaisano South, Inc., which took over J.S. Gaisano Mall in this city
Mayor Silvosa, who was ar the mall’s opening last week, said company officials assured him the mall will sell products a lower prices compared with those sold in Davao City.
Next year, the company will open another mall in Tagum City to compete directly with other malls that have been established there, although Mr. Gaisano declined to say how much his company will invest in setting up the other mall. Mr. Gaisano said the new mall will not only serve residents of Panabo, but also those from Carmen and Braulio Dujali, two other towns nearby. — Carmelito Q. Francisco
