Clip from Business world Newspaper: Davao expansion
SM Prime is laying the groundwork for a new shopping complex in Davao City’s Lanang district, about eight kilometers north of the city’s downtown. The company currently operates SM City Davao at Ecoland district, a kilometer south of the central business district.
The proposed shopping mall will need an initial 1,000 workers, said lawyer Pearly Joan L. Jayagan, SM City Davao Human Resources Department head.
Late last year, SM Prime bought a 10-hectare lot, previously hosting the Lanang Golf and Country Club, from the Dakudao family, one of the landed clans in this city. Although a member of the Dakudao clan confirmed the sale of the property to SM Prime, he declined to reveal the amount involved.
Late last year, workers have started demolishing the golf club apparently in preparation for the development of the new shopping mall.
Debbie A. Go, SM regional manager for Mindanao, declined to give details on the plan but confirmed that a retail complex would be constructed on the new site, noting the “big potential” in the northern sections of the city where upscale subdivisions are located.
The SM project, however, is just one of the major developments in the northern part of this metropolis.
In the second week of May, JG Summit Holdings, Inc.’s Robinsons Cybergate Davao is set to formally open, hosting contact centers and information technology-related firms as well as retail shops.
Also under development is Ayala Land, Inc. and the Anflo Management and Investment Co.’s 10-hectare Abreeza complex in Bajada district just two kilometers north of the city’s downtown. The P5-billion project will be completed in 2011, but officials of the two companies said last year its shopping mall will open in early 2010.
The New City Commercial Corp. (NCCC) has also bought a potential shopping mall site in Panacan district, near the Davao international airport and just about two kilometers from where the planned SM Davao north mall will be located.
NCCC currently operates two shopping malls in the city, and two others in Puerto Princesa in Palawan and in Tagum, Davao del Norte. It also operates a chain of convenience stores in this city.
No one among the members of the Lim family which owns the mall chain would confirm the reported acquisition of the Panacan land, however. — Kristine Jane R. Liu and Carmelito Q. Francisco