PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

Local shopping mall operator to open more outlets

Posted on May 28, 2013 10:50:07 PM [ BusinessWorld Online ]
DAVAO CITY -- Local firm Pinnacle Holdings Inc., operator of New City Commercial Center (NCCC) shopping malls, is opening 10 outlets of its various shop brands within the year.
“The company is aggressive because of the potentials (of its brands),” said corporate legal counsel Darry T. Gallego in a statement.
Among the outlets that would open soon are those at the Oroderm City, a new shopping complex built by the Oroderm Group of Companies under dermatologist Neil S. Oropesa located at the heart of this city’s central business district.
Pinnacle Holdings is renting 1,840 square meters in the complex, including a four storey structure.
Mr. Gallego said the company’s shops scheduled to open at Oroderm are Basics (which focuses on basic items); Choice Supermarket; Hardwaremaxx; Health and Beauty 1; Breadfactory; and Munchies (a snack bar).
Mr. Gallego, however, declined to provide an estimate on the company’s investment to finance this year’s expansion.
Oroderm City’s Mr. Oropesa said Pinnacle Holdings is among the three big locators in the shopping complex on Claro M. Recto Avenue noting there will soon be a bank and a network distribution company that will occupy a separate structure in the four-building complex.
The Pinnacle Holdings shops are scheduled to open starting July as construction of the building for the department store is still being completed.
In an earlier press statement, Pinnacle Holdings also announced it is opening another Health and Beauty 1 shops in Toril district in June, its 31st outlet.
Toril, a remote district south of this city has a fairly large urban center comparable to a regular town.
By July, Pinnacle Holdings will also open another shop along the city’s Jacinto St., where the huge Ateneo de Davao campus is located, to fill the void left by an outlet, NCX, that closed down in that area a few months ago.
The company is also opening two Choice supermarkets in Catalunan Grande in the southern part of the city and in Nova Tierra, a major residential subdivision located in the northern side of the city.
Meanwhile, the company is also finalizing the construction of two more shopping malls in Buhangin, a growth area in the northern part of the city, and in Panabo City, about 30 kilometers south from Davao City’s downtown.
In Buhangin district just south of the city proper, the company is building a four-storey shopping mall in an 8,000-square-meter lot, although officials did not mention how much will be spent for the project.
Mr. Gallego added that the plan for the mall in Panabo City has yet to be finalized.
The company, controlled by the Davao city-based Lim family, also runs NCCC shopping malls in various parts of the Davao Region as well as in Puerto Princesa City in Palawan.
The Lim family owns the Dos Palmas Island Resort and Spa in Honda Bay near Puerto Princesa in Palawan. -- Carmelito Q. Francisco

real estate central philippines
Copyright ©2008-2018