BACOLOD CITY, March 4 (PNA) — Mayor Monico Puentevella here is upbeat on the city’s economic growth with the entry of more investments recently.
“The city is doing well economically,” he said.
Puentevella cited the SM City Bacolod Annex that houses the SMX Convention Center and new businesses such as the recently opened Korean coffee shop Tom n Toms on Lacson Street.
“I asked an official of SM about their income with the operation of the SM extension mall, he said that they have increased their sales. Bacolod is doing very well,” he said.
On March 5, Ayala Land Inc. will also hold the groundbreaking rites for its shopping mall on the Capitol property in Bacolod City, along with a hotel and a residential condominium.
“If you look at the indication since they have their study, and they are all coming in at the same time, that means that we are doing very well,” he said.
The Citymall Commercial Centers Inc. (CMCCI) has also acquired two prime properties in the city.
CMCCI, a subsidiary of Double Dragon Properties Corp., has purchased a 1.1-hectare corner lot at Goldenfield Commercial Complex on Araneta Street and a one-hectare property along Lacson Street in Barangay Mandalagan.
“This is good news for Bacolod,” Puentevella said.
Ferdinand Sia, CMCCI president and chief operating officer, said in his letter to Puentevella that they strongly believe that Bacolod “is one of the most economically prosperous cities in the Visayas and an attractive destination for investors” and the decision to put up two Citymalls in the city is a “worthwhile investment.”
“We believe that this additional investment in Bacolod City will further spur substantial local economic growth and will provide decent employment to the local workforce of your vibrant city,” Sia added. (PNA)