Listed retail firm Metro Retail Stores Group Inc. (MRSGI) aims to capitalize on the growth prospects in Visayas, particularly Leyte-Samar and Negros Occidental, by partnering with the local government.
In a disclosure to the Philippine Stock Exchange Thursday, Feb. 13, MRSGI president and chief operating officer Manuel Alberto said the company will be bringing in modern retail services in these areas, which have been long underserved.
“As the economies of regions like Negros Occidental and Eastern Samar continue to grow — bolstered by impressive GDP (gross domestic product) expansions and strong performance in key sectors like retail, construction, and tourism — MRSGI is capitalizing on these opportunities,” Alberto said.
“Through our strategic partnerships with local and provincial governments, we are not just expanding our retail footprint; we are creating hubs of opportunity that provide jobs, services, and economic growth to the region,” he added.
In Catbalogan, Samar, the company has undertaken a joint venture agreement (JVA) with the provincial government to boost retail access, community development and regional infrastructure.
The JVA involves a two-story retail building with a supermarket and compact department store for the first phase of the project.
The second phase will expand the development into a two- to three-story mall to cater to the growing retail demand in Catbalogan.
Aside from the mall, the project also includes a convention center, a government center, a transport terminal, and a hotel.
In Hinigaran, Negros Occidental, MRSGI tied up with the local government through Public-Private Partnership (PPP) in building a new retail complex in a 6,000-square meter facility.
The three-level retail complex will house a supermarket and lifestyle section. The company said the nearly 100,000 population in Hinigaran no longer need to travel to Bacolod for their essential goods as the new retail facility will provide these for them.
This PPP will also integrate Ceres Bus Terminal in the Hinigaran facility.
“The Samar and Hinigaran projects are part of MRSGI’s ongoing expansion efforts in the Visayas, aligning with the strong economic growth in these regions,” the firm said.*PNA