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Felcris Hotels to invest P5 billion in Davao real estate project

Published on 25 September 2012
Written by Madelaine B. Miraflor

Yap-owned Felcris Hotels and Resorts Corp. will invest P5 billion for its recently launched hotel project in Davao named “Felcris Centrale,” a major development project located in a 5.9-hectare lot which will include a shopping mall, office buildings, residential towers and hotels.
 
The first phase of the project will be the completion of the mall and business processing outsource building at the cost of at least P1 billion.

Covering more than 54,000 square meters of floor area, Felcris Centrale will feature a 12-storey commercial complex with a 10-floor office space and a two-level retail and entertainment center complete with supermarket, boutiques, restaurants and specialty shops.

“Felcris is located near and is easily accessible from neighboring business establishments, government offices, and residential communities. With its proximity to the Davao International Airport, Davao City Hall, and the old Davao Central Business District, this development provides its occupants easier access to the major transportation and business areas,” said the company in a statement.

The Yap family is the pioneer in the convenience store industry in Davao when it founded the Davao Central Convenience Store Inc. on March 12, 1997. Davao Central Convenience Store opened five branches in its first year of incorporation. Now it has expanded all over Mindanao from Bayugan City, Agusan del Sur in the north all the way to Malita, Davao del Sur in the south.

“In this new endeavour, we intend to take the next step in our family’s vision. This has been a life long dream of the Yap family,” said Cassandra Yap, executive vice president of Felcris Centrale.
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