Preparations for P500 Million Gaisano Mall now underway
MALAYBALAY CITY, BUKIDNON – It seems like the preparations for the proposed Gaisano Mall here in Malaybalay City, Bukidnon are really on full blast these days.
I recently passed by this section of Malaybalay City’s main thoroughfare, Fortich Street, where the proposed Gaisano Mall (the very first mall in Bukidnon, if ever) is set to built. That’s where the current Gaisano Malaybalay is, right across the Petron gas station. For Malaybalay City natives, I’m pretty sure you’d recognize the building as the old Belyca superstore.
The P500-Million project will be built in phases, according to Stephen Gaisano, Jr., who also manages the Gaisano Country Mall in Cebu City. Stephen told me that the City Government of Malaybalay has approved his company’s application for an investment incentive wherein Gaisano will be exempted from paying the real basic property tax and amusement tax and that they will only need to pay the full business tax (based on rates for malls) only after five years. During the first five years, Stephen said that their company will only be required to pay their current business tax (as simply a department and retail store).
The planned Gaisano Mall Malaybalay will be a 4-storey building complete with movie theaters and store spaces available for lease. Gaisano Mall Malaybalay City will also adopt the same style found in Gaisano Country Mall Cagayan de Oro where there will be sections for groceries, clothes, shoes, textile etc.
I’m sure that many of you are looking forward to this project which is really pretty promising, I must say, especially given the fact that businessmen these days are warier with their money and investments. I’m also sure that most of you are excited to check out the movie theaters (Malaybalay City hasn’t had an operational one ever since Belyca cinema closed down several years ago…it’s now a badminton center, by the way) and the stores. I myself am interested to keep an eye on this project, I must admit.
But what I’m really hoping is that this Gaisano outlet poses to be more of an asset especially to the local community. Hopefully, with the opening of this mall, the smaller shops don’t lose out and instead, may even complement those inside the mall. Moreover, I hope that more and more locals get good, REGULAR jobs at this proposed mall. Because truth be told, while the local government may be happy to see more investments pouring in the city, we still know who really wins at the end of the day.