Executives from XRC Mall Developer, Inc. have expressed openness to including Catanduanes in their investment portfolio but made no final commitments as the proposals remain under evaluation.
This was disclosed by the provincial government of Catanduanes last week after XentroMall officials led by Chairman and Chief Executive Officer Alexander Cruz met with Governor Patrick Alain Azanza on Aug. 7, 2025 and inspected potential investment sites in the capital town.
In an initial meeting with Cruz shortly after Azanza assumed office, the governor and the community mall developer discussed possible investment opportunities for the province.
Last week’s visit advanced these discussions and enabled the delegation to personally assess viable locations for proposed projects.
Among the sites visited were the Provincial Integrated Transport Terminal and Business Complex at the Community Hub, the Virac Public Market, the old JMA building and parking lot, the hotel and restaurant of Catanduanes State University, and a potential locator site at the university’s Knowledge, Innovation, Science, and Technology Park.
During the meeting, XentroMall executives stated that they are also studying the market demand for supermarket brands under their group, such as Puregold, Robinsons, and SM, as well as the possibility of bringing Starbucks to the island.
Gov. Azanza expressed optimism that investments of this scale could support Virac’s aspirations for cityhood.
Municipal Administrator John Socito represented Virac Mayor Sinforoso Sarmiento Jr. during the discussions and site visits, which were coordinated by Luz dela Riva.
XRC Mall Developer, Inc. operates 26 community malls under the XentroMall brand and five public markets across Luzon.
In a separate development, representatives of Puregold Price Club, Inc., which operates a chain of more than 400 Puregold stores and over 20 food service stalls, is reportedly looking for a vacant lot with an area of at least 2,000 square meters and possibly along the main highway in Virac.
It is claimed that the company, owned by Cosco Capital, Inc. headed by Lucio Co, is interested in opening a store in the capital town.