SM to open branch in Tacloban City

TACLOBAN CITY- The country’s leading chain of hypermarkets is set to open its branch in the city which is expected to generate thousands of employment and income to the city government.

The SM Hypermarket, which is part of the country’s leading mall operator, Shoe Mart(SM) group of companies, has acquired more than a hectare of lot located at the new bus terminal area along Abucay district, this city.

As this developed, the Leyte Samar Daily Express has learned that another private lot located along Sagkahan district was bought by the SM Prime Holdings for their possible construction of a shopping mall in Tacloban.

City planning and development officer Roland Hidalgo said that the construction of the SM Hypermarket in Abucay district is expected to be finished by next year.

“Of course, we are happy with their coming in. This will definitely generate employment to our people and at the same time, earn additional income for the city government,” Hidalgo said.

He said that the SM management had already presented to his office its proposed construction plan.

City Architect Danny Fuentebella, in a separate interview, said that he met some officials of the SM Hypermarket there weeks ago and they have discussed the construction plans and other needed documents for the construction of the said establishment.

Fuentebella said that by next year, the construction of the SM Hypermarket will be finished and open for business.

While he has no idea as to how much investment that the SM Hypermarket will be bringing in to Tacloban, Fuentebella estimated that it could easily surpass the P100 million mark.

The city official also disclosed that with the operation of the SM Hypermarket in the northern portion of the city, it would result to the creation of a new commercial area in Tacloban.

“It will serve as a catalyst for economic activities on that part of Tacloban,” Fuentebella said.

He said that the operations of the SM Hypermarket will surely result to the generation of new employment and income to the city government for the taxes it will be paying.

It was noted that the operations of the Robinson’s Place, the first shopping mall to open in the region in 2009, has triggered several construction of business and commercial buildings along Marasbaras district.

Meantime, Tacloban may just have its second shopping mall in the next few years after the SM Prime Holdings procured more than 21,000 square meter lot along Sagkahan district.

A source, privy to the transaction, the deal was closed last March 7, 2012.

The source said that the SM Prime Holdings bought the area, composed of nine parcel of lots, at more than P300 million.

By JOEY A. GABIETA
Staff Writer

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