Here are some latest business development rumors circulating around coffee shops in Cagayan de Oro City.
First on the list is the rumored sale of the Coca-Cola property along CM Recto Avenue and Osmeña Street to a large Manila-based investor.
The relocation of the bottling plant has been long overdue because it has been overtaken by the expansion of the city’s business district. The site was considered to be in the city outskirts many decades back when the bottling plant began its operations. Today, Coca-Cola is the last industry to transfer with the recent opening of its mega facility in Villanueva, Misamis Oriental. The lot is a little over 3 hectares more or less.
As shown above, the northern part is the site of Tune Hotel which is set to start construction late this year. The SM Group is the one rumored to be interested on the prime property. However, this has to be verified because Coke officials have said the plant will stay until 2020. 🙁
The next buzz is the rumored mixed use development project of the Alvarez property in Gusa. More specifically, this is the site of the existing Kia Motors showroom fronting Capitol University Medical City (CUMC). Accordingly, the property extends further towards the former Aguilar Foundation School. The Gokongwei Group (Robinsons) is rumored to be interested in developing the area.
What’s interesting is that the site is prime on both fronts, the highway on one side and the coastal road on the other. The architects will have A grand time in designing the rumored development. The coastal property is shown below with the coastal road being constructed.
A few weeks ago, Robinsons was on the lookout for a large tract of land near Bulua Bus Terminal, again for a mixed use development.
Also buzzing is the impending entry of Puregold in Cagayan de Oro City. Accordingly, representatives of the said firm has been scouting areas in the city for possible location of their store. It was initially interested on the burnt Ororama Megacenter building which is a prime location. However, Mr. Hong See has other things in mind. It was earlier reported that Mr. See will re-build it but because it is very near Market City, plans to build a hotel was considered instead.
The Ororama Megacenter is just about any investor’s dream location. Perhaps we still have to wait whether it will still be Mr. See or any other investor.