Metro Retail Stores opens 49th store
Metro Retail Stores Group (MRSGI) has opened its 49th store, in Quezon City.
The four-story, 14,600 sqm department store is part of the assets that MRSGI had acquired from SIAL Specialty Retailers.
Earlier in 2016, Metro acquired two Wellworth department stores, which included the store assets from SIAL, a P498 million joint venture between Ayala Land Inc and SSI. Under the transaction, Metro bought the Wellworth stores located at the UP Town Center and the Fairview Terraces Mall, which have a combined GFA of 25,000 sqm.
On May 6, Metro Retail Stores Group Inc opened its latest department store at the UP Town Center in Quezon City. The two-story department store has a GFA of 10,920 sqm and is the 48th store of Gaisano-led MRSGI.
Chairman and CEO, Frank Gaisano, said the opening is part of the company’s plan to double its footprint in the next five years.