NCCC acquires Victoria Plaza

DAVAO CITY (MindaNews/12 March) – The Lim-owned New City Commercial Corporation (NCCC) on Tuesday announced its acquisition of the 26-year old Victoria Plaza Mall and said it will strive to “preserve” the aging two-story mall known as a pioneering retail player in the city and a premier shopping center of the Dabawenyos back in the 1990s.

Thea S. Padua, NCCC public relations manager, said in a statement the Lim family will “preserve this history while rewriting it to respond to the future.”

Padua said the acquisition of Victoria Plaza Mall, the first ever mall complex in Davao Region, was done on March 12, 2019, between NCCC chair Helen A. Lim and president Sharlene A. Lim, and the Philippine National Bank at the PNB Financial Center in Manila.

Padua said the Lim family called the acquisition historic and strategic for NCCC as they hope to contribute in the “city’s participation in our country’s growing economy.”

The Lim family will formally take over the management of the mall on March 27, 2019.

From being a premier mall before, Victoria Plaza is housing several tiangge and ukay-ukay stalls at present.

But Padua said the family, who is privileged “to have the opportunity to develop this property that is very much a part of Davao’s culture,” would present the future plans for the mall by then.

She did not disclose the acquisition cost of the mall.

Previously owned and managed by Davao Sunrise Investment & Development Corporation of the Limso family, Victoria Plaza was inaugurated on March 16, 1993.

On December 23, 2017, the family’s 14-year old four-story NCCC Mall of Davao in Ma-a was destroyed by a fire that killed 37 call center agents and a mall key custodian.

Their remains were recovered days after the fire incident on the fourth floor where the business process outsourcing firm Survey Sampling International was operating. (Antonio L. Colina IV/MindaNews)