Gaisano Grand group plans to open four malls in Cebu - Cebu Circle | Cebu City, Philippines

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Tuesday, June 29, 2010

Gaisano Grand group plans to open four malls in Cebu

06/29/2010 - CEBU, Philippines - The Gaisano Grand Group plans to open four shopping malls this year, in addition to its existing 16 shopping facilities spread throughout the Visayas and Mindanao.

Benito Sy Gaisano, president of the Grand Gaisano Group, said the planned shopping malls will soon rise in Toledo City, Minglanilla, Mandaue City, and Talamban within the year and early next year.

This planned investment of the Gaisano Grand Group is a manifestation of the group’s confidence in the province’s retail sector.

Gaisano further said that the company is also currently in the planning stage of the possible mixed-use development in its three-hectare property in Banilad.

The recently awarded “Entrepreneur of the Year” by the Cebu Chamber of Commerce and Industry during the recently concluded 15th Annual Grand Chamber Awards, also added that the company will continue to invest in Cebu’s retail industry, which is highly driven by the robust tourism growth of the province.

Gaisano said the company usually spends around P100 million for every shopping mall development, he however stopped short of revealing the specific capital expenditure for the planned shopping malls.

And as the group is already starting to venture into hotel operations with the Grand Regal Hotel in Davao and Bacolod, opening a hotel facility in Cebu is also more likely.

The Toledo Grand Mall will be opened in July this year, while its Minglanilla project will be open for commercial operation by the last quarter of this year.

The Mandaue City Grand Gaisano mall, which is currently under construction, may be opened sometime next year, he said.

Cornering the north-bound market, the company is also set to develop a mid-rise shopping mall in Talamban, a four to five story shopping mall. The property which is now operating as a commercial complex in Talamban will immediately be converted into a Grand Gaisano shopping facility.

While the threat of economic uncertainty is still there, Gaisano believes that pursuing investments is not only good in better times, but also in depressed periods.

Grand Gaisano Malls are now present in major areas in the country, such Davao, Negros, Lapu-Lapu City, among others.

This year, most of its expansion ventures are focused in the Cebu province.

What originally called GJ Gaisano South back in 1978, Benito Gaisano’s retail chain has grown over the years and now expanded into a merchandize empire, with businesses across profitable trade.

Gaisano Grand Malls provide full-integrated shopping, dining and entertainment facilities to its growing clientele. It employs more than 10 thousand Filipinos (Freeman)

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