3 major commercial real estate projects to start next year in Koronadal
KORONADAL CITY (MindaNews / October 21) – The city government is preparing for the development from next year of three large commercial real estate projects here by the private sector.
City mayor Eliordo Ogena said preparations continued to gain ground for the construction of the planned branches here of SM and Robinsons shopping malls, and for S&R membership purchases.
He said SM is currently finalizing its land acquisition while Robinsons has already started the initial development of the site and will likely begin the actual construction phase in the coming months.
The mayor said that S&R representatives visited their newly acquired site earlier this week for the implementation of the project.
“We are optimistic that these developments will be in full swing by next year,” he said in a virtual briefing.
Ogena said Robinsons Land Corporation, owner and operator of the national chain of Robinsons Malls, originally planned to begin construction on the shopping complex last year, but has been slowed by the onset of the COVID-19 pandemic.
The planned three-story mall, which would be the company’s eighth in Mindanao, will be built on an 8.3-hectare property in Zone 2 of Barangay.
The site’s development area covers 3.8 hectares while 1.67 hectares have been allocated for future expansion. The total construction area covers 99,862.31 square meters, or nearly 10 hectares.
For the SM Mall, Ogena said the city government helped settle a previous dispute between owners and tenants of the 16-hectare site along the national highway at Barangay Sto. Niño.
The property, which is comprised of two lots, is located close to the Town Hall complex and several other emerging commercial areas.
He said they had already drafted a compromise agreement between the parties involved, in particular SM, the land tenants and the brokers.
Once completed, Ogena said he expects future projects to provide more opportunities for people, especially in terms of jobs.
He said the local government could negotiate with the companies involved to prioritize local residents for their human complement and also allocate other slots for those in neighboring localities.
Ogena said these developments complement the growth projections for the city, which is a component and capital of South Cotabato province, and the regional headquarters and center of the region 12.
The city already has three shopping centers – the local KCC and the Mall of Ace Centerpoint, as well as a branch in Gaisano.
“This city is a small town that is growing rapidly… a small town with a big dream. We are continually trying to put in place the necessary infrastructure to ensure that our growth will become faster, ”he said. (MindaNews)