Gaisano Group to build outlets at Megaworld’s Iloilo Township | Manila Bulletin

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Gaisano Group to build outlets at Megaworld’s Iloilo Township | Manila Bulletin

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Metro Retail Stores Group, Inc., the retail arm of the Gaisano-led Vicsal Group of Companies, will build a department store and supermarket within Iloilo Business Park after acquiring a portion of the township, which is owned by Megaworld Corp.

A statement showed that Metro Retail has acquired around 9,000 square meters of commercial property inside the Iloilo Business Park, Megaworld’s integrated urban township in Mandurriao, Iloilo City.

The Gaisano-led company is bringing its Metro retail store formats – Metro Department Store and Metro Supermarket – into the township.

 

Gaisano Group to build outlets at Megaworlds Iloilo Township Manila Bulletin

 Executives of property giant Megaworld and Metro Retail Stores Group, Inc. during the signing of the agreement.(From left to right) Kevin L. Tan, first vice-president and head of commercial division, Megaworld; Lourdes Gutierrez-Alfonso, chief operating officer, Megaworld; Frank S. Gaisano, chairman and CEO, MRSGI; and Arthur Emmanuel, president and chief operating officer, MRSGI.

 

“We are proud to have cemented a formidable partnership with Megaworld Corporation, one of the country’s most reputable developers, and we look forward to realize synergies from this strategic alliance,” Frank Gaisano, chairman and chief executive officer of Metro Retail said.

“As a retail industry leader, Metro’s linkage with property developers is crucial to our success, and this partnership will be mutually beneficial as both Megaworld and Metro move towards aggressive expansion,” he added.

Once completed, the 72-hectare Iloilo Business Park is envisioned to be the center of business, tourism and lifestyle in Region 6.

Aside from the Metro retail outlets, the township will also be home to two first-class business hotels: the Richmonde Hotel Iloilo and Courtyard by Marriott; the Iloilo Convention Center, which will be the biggest convention facility in the region once completed; luxury residential condominiums; Business Process Outsourcing (BPO) office towers; a 9-hectare commercial and boutique hotel district; among others.

For this year, Megaworld is scheduled to launch five more townships spread out across the country.

These new developments will bring the company’s township portfolio from 15 to 20 by the end of this year.

In 2014, the company also introduced five townships in its portfolio covering almost 1,000 hectares of land. These include Woodside City in Pasig City (12.3 hectares); Southwoods City in the boundaries of Cavite and Laguna (561 hectares); Davao Park District in Lanang, Davao City (11 hectares); Alabang West in Las Pinas City (62 hectares) and Suntrust Ecotown in Tanza, Cavite (350 hectares).