(Source: ABS-CBN News | February 19, 2019)
Metro Retail Stores Group announced that it would develop and operate a commercial complex in Catbalogan under a joint venture agreement with the Samar provincial government.
The P472-million project calls for the construction of a department store and supermarket with 1 movie theater, leasable spaces, convention center, government center, business process outsourcing center, transport terminal and a hotel, Metro Retail told the stock exchange.
Construction of the department store and supermarket is expected to be completed 18 to 24 months from turnover of property while the convention center is expected to be completed in 8 months, the company said.
Metro Retail said it would turn over the ownership of the department store and supermarket to the province after 30 years.
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