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Davao firm to spend P5B on complex

Posted on September 23, 2012 10:48:06 PM [ BusinessWorld Online ]

DAVAO CITY -- Felcris Hotels & Resorts Corp. of the Yap family plans to invest up to P5 billion in a 5.9-hectare mixed-use project along this city’s Quimpo Boulevard.

Cassandra Yap, executive vice-president of the company, said during the project’s groundbreaking on Wednesday last week that the first phase of the project, dubbed Felcris Centrale, involves a 12-storey commercial building on which the company will invest at least P1 billion.

“Felcris Centrale is ideally located and is easily accessible from neighboring business establishments, government offices and residential communities. With its proximity to the Davao City Hall and the old Davao Central Business District, this development provides its occupants easier access to the major transportation and business areas,” Ms. Yap said.

The building, which will have a shopping mall and a business process outsourcing center, will have a 54,000 square meters in floor area. The 10 floors will be for office spaces and the first two levels will be for retail and entertainment “complete with supermarket, boutiques, restaurants and specialty shop,” Ms. Yap said.

“It will feature a mall, which offers a mix of shops and restaurants that are complemented by a fully landscaped activity and entertainment area,” she added.

She said the project will showcase the city as “fruit and flower basket of the Philippines” with flower, fruit, local delicacies and handicraft stalls as locators.

Aside from the building, the company will also put up a hotel and other structures on the site, said Ms. Yap without elaborating.

“I know everybody is excited to see this project,” Mayor Sara Z. Duterte-Carpio said during the event, adding that she hoped work on the project could start within the next three months.

The groundbreaking ceremonies, Ms. Yap explained, was timed with the founding of the Felcris brand in this city on Sept. 19, 1969.

Felcris started with a textile store on Anda St., which eventually grew into what is now Felcris Supermarket.

The company then strengthened its foothold on the retail industry in the city as it started the Warehouse Club brand and its Davao Central Warehouse Club.

It’s Davao Central Convenience Store chain, with most outlets operating 24 hours, now has branches in other areas in Mindanao. -- Carmelito Q. Francisco         
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