Manila: Listed retail firm Metro Retail Stores Group, Inc. (MRSGI) aims to capitalize on the growth prospects in Visayas, particularly Leyte-Samar and Negros Occidental, by partnering with the local government.
According to Philippines News Agency, MRSGI president and chief operating officer Manuel Alberto announced in a disclosure to the Philippine Stock Exchange that the company intends to introduce modern retail services to these historically underserved areas. Alberto highlighted that the economic growth of regions like Negros Occidental and Eastern Samar, driven by substantial GDP expansions and robust performance in sectors such as retail, construction, and tourism, presents valuable opportunities for MRSGI.
Alberto stated, "Through our strategic partnerships with local and provincial governments, we are not just expanding our retail footprint; we are creating hubs of opportunity that provide jobs, services, and economic growth to the region."
In Catbalogan, Samar, MRSGI has entered into a joint venture agreement (JVA) with the provincial government to enhance retail access, community development, and regional infrastructure. The JVA plans include a two-story retail building featuring a supermarket and compact department store in the first phase. The second phase aims to transform the development into a two- to three-story mall to meet the increasing retail demand in Catbalogan. Additionally, the project will incorporate a convention center, a government center, a transport terminal, and a hotel.
In Hinigaran, Negros Occidental, MRSGI has partnered with the local government through a Public-Private Partnership (PPP) to construct a new retail complex on a 6,000-square meter site. The three-level complex will include a supermarket and lifestyle section, catering to the nearly 100,000 residents of Hinigaran, allowing them to access essential goods locally rather than traveling to Bacolod. This PPP will also integrate the Ceres Bus Terminal into the Hinigaran facility.
"The Samar and Hinigaran projects are part of MRSGI's ongoing expansion efforts in the Visayas, aligning with the strong economic growth in these regions," the firm stated.
