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Prime Orion Philippines, Inc.
...hindi pa ako nakapasyal dito ever, lalo pa sigurong gaganda ito now that Ayala is at the helm

New POPI chief focuses on Tutuban Center upgrade

THE HEAD of the Ayala Malls Group has been elected as the new president and chief executive officer of Prime Orion Philippines, Inc. (POPI), the owner and developer of Tutuban Center in Divisoria.

In a disclosure to the stock exchange on Tuesday, POPI said Maria Rowena M. Tomeldan has been elected to the company’s top post, replacing Jose Emmanuel H. Jalandoni. POPI cited “organizational movement” as reason for Mr. Jalandoni’s cessation from the position.

“The focus of the company is still improving Tutuban Center. We’re still at this point wherein we’re improving operations… On the existing buildings, improving amenities, bringing in new features, that’s the main focus. It’s operating the (Tutuban) Center better,” Ms. Tomeldan told BusinessWorld in a phone interview when asked about plans for POPI.

Ayala Land, Inc. (ALI) currently has a 55.2% stake in POPI. The property giant’s investments in POPI has allowed the company to redevelop the Tutuban Center in Divisoria Tutuban Complex, which has a gross leasable area of 60,000 square meters sitting on a 20-hectare property. POPI earlier said that it plans to double its leasable area and convert the property into a mixed-use development.

“There’s been a marked improvement in Tutuban in what they have to offer to customers, you’ll see that in terms of security, facilities, there’s a marked improvement, and we will continue to do that,” Ms. Tomeldan said.

Asked whether the company will convert the retail space similar to what it is doing in Ayala Malls, Ms. Tomeldan answered in the negative, noting that the focus will be on improving the center’s existing features.

“We operate as a wholesale and retail center, given its very strategic location,” the POPI executive said.

POPI swung to profitability in the first nine months of 2017, recording a net income attributable to the parent of P91.6 million, against an attributable loss of P394.3 million in the same period a year ago. The company’s revenues, meanwhile, dropped 32% during the same period to P452 million.


source: http://bworldonline.com/new-popi-chief-f...r-upgrade/
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