Vol. 8 No. 365
Sunday, September 11, 2011
   
  Tagbilaran City, Bohol, Philippines



SM Mall to rise soon?

CORELLA, Bohol – The buzz that the giant conglomerate owned by Filipino-Chinese tycoon Henry Sy, Sr. is allegedly contemplating to put up an SM-like mega-mall here is spreading fast like a wildfire to the amusement of officials here but may not be for the mall establishments in Tagbilaran City, about ten kilometers from here.

This developed even earlier before the plan to set up an electric Bohol Backbone Transmission Project (BBTP) by the National Grid Corp. of the Philippines (NGCP), a private corporation headed by Sy’s son, Henry T. Sy, Jr.

The NGCP has replaced the once-government-run-and-managed Philippine Transmission Corp pursuant to the Electric Power Investment Reform Act (EPIRA).

The groundbreaking of the PhP1 billion worth of the BBTP already took place on Sept. 8, 2011 in barangay Sambog here has fanned further speculation of such giant investment among the residents here and the neighboring towns.

Obviously, this (mega-mall) would give the employment opportunity for the residents here, said a resident in an interview. The people here were excited following talks that Sy’s company is coming to town since they (Sy’s group) started acquiring lots, he added.

For his part, Mayor Jose Nicanor Tocmo said “I think it will not happen in the next two years.” He added, “Corella welcomes it if it would,” without elaborating.

But no one among the NGCP personnel either confirm about this talks of mega-mall project.

Mayor Tocmo said that he hopes that this once-sleepy town, probably the smallest in terms of population and income, may one day wake up boom, citing at least two gasoline stations are being set up here.

Aside from being the host of more than a hundred hectares of natural sanctuary for the Tarsiers, he also said that he plans with the approval of the people to establish a unique tourist attraction here. But he did not give details. (RVO)



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