The entry of Henry Sy’s mega Shoemart seems to be inevitable if the group wins the bidding on who will lease the downtown lot of Holy Name University (HNU) in the central commercial districtÂ along Carlos P. Garcia Avenue, this city.
This development surfaced as SM was one of the three firms whoÂ bought the bid documents to lease the abandoned HNU building, just beside Bohol Quality Mall. Sources revealed that since the area is just about 5,800 square meters, it will be “Save More” of the SM group which will be constructed if they will win the bid.
The other interested parties are Alturas Group and another Manila based company interested to invest in the city.
It was learned that BQ has not shown interest considering their newly expanded operation at the new Luisa Galeria nearby, aside from the on-going expansion along Gallares st., this city.
The three interested companies are expected to submit their bids and proposals not later than May 15 which is the deadline set by the SVD community, owner of Holy Name University.
Chronicle sources said the lease for the prime property is between P400 to P600 per square meter.
The winning bidder to lease the property will be known by next month, sources told The Chronicle.
The site which was abandoned after the 2012 earthquake used to house the high school, college departments of HNU and the SVD Fathers’ quarters which were moved to the uptown area leading to the Island City Mall.