(Source: Manila Bulletin | March 12, 2019)
Davao City local pioneering retail player New City Commercial Corporation (NCCC) has acquired Victoria Plaza, the first-ever mall complex in Davao Region.
In a report from Manila Bulletin, NCCC Chairman Helen A. Lim and Malls President Faye A. Lim consummated the deal in a signing ceremony on March 12, at the Philippine National Bank (PNB) Financial Center in Manila. PNB owned the iconic mall before the NCCC acquisition.
According to Lim, it was a historic and strategic acquisition for NCCC. She added that as a Davao City-based firm, it was confident in the city’s participation in the country’s growing economy.
She also said that it will be a privilege for a homegrown company to have the opportunity to develop the property which is very much a part of Davao’s culture.
The NCCC will formally take over the ownership of Victoria Plaza on March 27.
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