Calbayog mayor signs deed of sale with Gaisano

TACLOBAN CITY- The coming in of a shopping mall in Calbayog City is now official.

This after City Mayor Ronaldo Aquino confirmed that he has already signed a deed of sale of the city government-owned property to the Gaisano shopping mall yesterday.

According to Aquino, the coming of the Gaisano shopping mall in his city would create a ripple effects to its economy and would result for other investors to conduct their business in Calbayog, the first city of Samar Island.

Aquino, in a telephone interview, said that the city government earned about P67 million in selling its property, land and building, which would be used by the Gaisano for its Calbayog branch.

The proposed Gaisano mall would be sitting at 6,700 square meters located right at the center of the city.

Aquino said that the city government agreed to sell the lot at P10, 000 per square meter which was relatively lower compared to its current zonal value of around P12,000.

The area of the proposed Gaisano mall was the old public market of the city.

Genevieve Ann Go, vice president of the Gaisano shopping mall, signed the deed of sale in behalf of the company.

“Of course, we are happy with the coming in of the Gaisano here in Calbayog. It will boost our local economy and we expect other investors will also do their business here in Calbayog,” Aquino said.

In fact, another giant shopping mall is also to construct its own branch also next year, the city mayor added. He also said other companies, both based in Manila and Cebu, have signified their intention to put up their businesses in Calbayog.

It was learned from the Calbayog city mayor that under an agreement drawn both by the city government and the Gaisano management, the latter has agreed to have 85 percent of its workforce coming from the city.

And in return, the city government would give them a three-year tax holiday.

The ground work for the construction of the Gaisano mall in Calbayog is to start January, 2012. Its actual business operation is projected to start on October, 2012.

At present, the Cebu-based Gaisano chain of shopping malls, is operating in Ormoc City and in Tacloban, where it first set foot in the region in 1987.

Currently, it is constructing its branches in Maasin City and Sogod, both in Southern Leyte. (JOEY A. GABIETA)

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Posted by lsde on Oct 7 2011. Filed under Second Story. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.