By Ivy Tejano
DAVAO CITY — The first-ever mall complex in the Davao Region – Victoria Plaza – has been acquired by the New City Commercial Corporation (NCCC), a local pioneering retail player in this city.
(Google Maps / MANILA BULLETIN)
NCCC Chairman Helen A. Lim and Malls President Faye A. Lim consummated the deal in a signing ceremony held Tuesday, 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.
Lim 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.
“We will strive to preserve this history while rewriting it to respond to the future,” Lim said.
The NCCC will formally take over the ownership of Victoria Plaza on March 27.