By Richmond S. Mercurio (The
Philippine Star) | Updated October 22, 2014 - 12:00am
MANILA, Philippines - Cosco Capital
Inc., the investment vehicle of retail magnate Lucio Co, is set to develop a
new commercial center in Marikina.
In a disclosure to the local bourse,
Cosco Capital said subsidiary Ellimac Prime Holdings Inc. has secured through a
lease agreement a 7,168-square meter land along Liwasang Kalayaan in Marikina
Heights.
The property is being leased from a
company named Rotonda Development Corp. No further details on the lease
agreement were disclosed.
“Cosco Capital intends to use the
leased premises for development and operation of a commercial center,” the
company said.
Cosco Capital is into supermarkets
(Puregold Price Club Inc.), liquor importation (Premier Wine & Spirits
Inc.), commercial real estate and oil storage and oil exploration activities.
The firm in March acquired the
35,000-square meter NE Pacific, the largest commercial mall in Nueva Ecija.
In August, it also acquired liquefied petroleum
gas (LPG) supplier Liquigaz at a cost of about $80 million.
In the first half of the year, the
company’s earnings grew slightly to P1.5 billion from P1.49 billion the
previous year.
Aside from being the operator of the
country’s second largest grocery chain, Cosco Capital also claims to be the
country’s leading importer of liquor with exclusive distribution rights to some
of the world’s top brands such as Cuervo, Jim Beam, Fundador, Absolut Vodka,
Johnny Walker, Chivas Regal and Alfonso.
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