Biggest shopping mall in Ilocos Sur is now in operation

NARVACAN, Ilocos Sur, March 18 (PNA) -- A two-storey commercial complex is now in operation.

U/C Mall front facade

Narvacan Mayor Edgar Zaragoza said the complex, to be known as Narvacan Mall, has a total land area of 8,000 square meters and has 240 stalls to be rented out to local businessmen and investors.

Built by the municipal government, the complex is only 300 meters north of the Poblacion and is located along the national highway in Barangay Limmansangan, Narvacan.

Zaragoza, current President of the Mayor’s League of Ilocos Sur, said the mall will ultimately boost the economy of the town which is eyeing to attain an annual income of P100 million in order to meet one of the requirements for cityhood.

“We need more business activities for bigger chance to attain progress and to further realize our long time dream to become a city,” he said.

He disclosed that the project was designed to provide employment opportunities for the local residents as well as to generate funds for the municipality.

Among the expected customers of the new business establishment are the residents from the towns of Narvacan, Burgos, Sta. Maria, Nagbukel, Santa, all in Ilocos Sur and the province of Abra, as well as travelers and motorists.

He disclosed at least three prominent business groups had already occupied the majority stalls in the commercial complex, such as The JTC Mart, the biggest shopping store in Ilocos Sur based in Bantay town; the Magic Department Store and Appliance Center from Dagupan City, and the Rang-ay Bank.

JTC Superstore-3rd store 

Mang Inasal-1st branch in Ilocos Sur

“It must be noted that Narvacan is the gateway to Cordilleras. Those from the neighboring towns will save a lot in terms of time, energy and money when they go shopping because the mall will offer discounts and services from department store, appliance center to beauty parlors and fastfood centers,” he said.

The commercial complex was constructed through a loan obtained by the local government unit of Narvacan from the Land Bank of the Philippines amounting to P90 million, with a local counterpart of P30 million or a total of P120 million.

The mayor said the loan is set to be paid in 15 years, with the quarterly amortization to be derived from stall rentals coming from various business establishments threat.

He estimated that the shopping mall will generate some P5 million to P10 million annual income when it is fully operational. (PNA)
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