Puregold Opens Cagayan de Oro Branch

On Friday, December 13, 2013, Puregold Price Club Inc. opens its Cagayan de Oro store. Its distinctive green and yellow painted building is located where the burned Ororama Mega Center was along Claro M. Recto Avenue, Agora Road junction, Lapasan, Cagayan de Oro City. The site is to the east of and adjacent to Lim ket Kai, the largest shopping complex in the city.

Puregold Price Club Inc. is a fastest growing hyper market in the Philippines.  Its first store was established in Mandaluyong, Metro Manila in 1998. Since then the business has expanded into over 200 locations in many parts of the Philippines. The Cagayan de Oro store is its fifth and is also the flagship store in Mindanao. Most of the other stores are concentrated in Metro Manila and other major cities of Luzon and the Visayas.     

                                                        

The company is founded and owned by Chinese-Filipino billionaire tycoon Lucio Co. He and his wife Susan Co were jointly listed by Forbes as the 10^th richest persons in the Philippines as of July 2013. Their fortune is estimated at about 1.9 billion US dollars.

Puregold has added to the many Manila based chain of stores that already operate in the city such as SM, Robinson’s, Centrio, Unitop among others. In addition there are the Lim Ket Kai, Ororama and Gaisano which are also into the tightly contested retailing business industry in the city.

                                                                                                                        

By opening a branch in Cagayan de Oro, the management of Puregold has implicitly expressed its optimism that the city is a good investment destination for further growth of its business.

Centrio, an Ayala Mall in Cagayan de Oro City

Centrio, an Ayala Mall has formally opened its business operation in the city of Cagayan de Oro in Northern Mindanao, Philippines on November 9, 2012. The mall which is owned by Ayala Land Incorporated is constructed at a cost PHP 4.7 billion which is equivalent to US$ 114.41 million in the current peso-dollar exchange rate.                                                                                                                                                                              

The 3.7-hectare mall is situated right along C.M. Recto Avenue, the busiest thoroughfare of the city which is also a part of the national highway. To its north right across the road is another mall, Gaisano City.  On the east side of Centrio is Capt. Vicente Roa St. and on its west is Corrales street.                                                                                                                                 

Aside from the mall, Centrio has also a hotel, a BPO office and a condominium tower within its complex. It has a gross ground floor area of 64,000 square meters with a 44,000 square meters of gross leasable area in a 3-storey structure which can accommodate 300 concessionaires. Two Philippine acacia trees which are within Centrio’s land were left alone by the developers. The area where the trees are located now serves as its mini-park and garden.

Patrons of the mall are accorded with comfortable ambiance such as fully air-conditioned building. Inside it are sporting goods stores, book stores, pharmacies, restaurants, movie houses and other business establishments that offer wide assortment of goods such as clothes, shoes, watches, books, cameras, electronic goods, computers, foods and other goods. Rustan’s, a Manila-based chain of business establishment will soon open in the mall its Fresh Supermarket which is its first ever in Mindanao.

Centrio is a welcome addition to the big malls that established their business in the city such as Gaisano, Shoemart, Robinson and Lim Ket Kai which is just a short distance away from it. Centrio’s business operation will indeed contribute to the economic growth of the city. Moreover, it will also provide employment opportunities to the youth of the city and its neighboring areas.