The first Metro Gaisano mall in Negros Oriental will soon open in Bais City, following the signing of a lease agreement with the local government unit.
This is historic since it is the first Gaisano in Negros Oriental, according to Atty. Lloyd Elmaco, Bais legal officer, who said the lease is by virtue of Ordinance No. 35, otherwise known as the Public Private Partnership Code of Bais City.
The Ordinance has recently opened the doors of Bais City to investors like Montesol Solar of the Ayala Group of companies.
“Metro Gaisano will lease the Mercado de Bais, while the City will develop the satellite market for our market vendors who are currently occupying the Mercado,” said Elmaco.
Elmaco disclosed that Gaisano paid an advance rent of P40 million that the City would use to develop and improve the satellite market.
He said the rent of the stalls in the satellite market would be cheaper for the vendors, compared to the rate in the Mercado de Bais.
At the signing Thursday in Bais City were Arthur Emmanuel, president and chief operating officer of Metro Retail Stores Inc., his legal counsel Gerralyn Sayson, and Mayor Mercedes Goñi with her legal officer Lloyd Elmaco.
Emmanuel assured during the signing of the contract that 95 percent of the workforce of the new Gaisano Mall will be Baisanons.
Gaisano will start its renovation of the Mercado when the satellite market is ready to be occupied by the Bais vendors, Atty. Elmaco said. (PNA/JFP)
