Company Profile

Vicsal Development Corporation

The Metro Stores

Vicsal Development Corporation (VICSAL), is a private family corporation primarily engaged in the retail business. It owns and operates a chain of department stores and supermarkets popularly known as Metro.

Incorporated in 1981, Metro opened its first department store and supermarket in 1982. Its inception was through the vision of the late Sir Victor Gaisano, a seasoned retailer and one of the revered members of the Gaisano family. The Gaisanos owned and managed the former White Gold Department Store, the first department store and supermarket business in Cebu. White Gold lasted for 30 years and became the largest of its kind since its establishment in 1949. With the help of his wife, Sally Gaisano, and four children — Margaret, Jack, Edward and Frank, Victor Gaisano envisioned a department store and supermarket that will offer quality and a variety of merchandise in a friendly atmosphere and at prices that are highly competitive and reasonable. Metro’s business operations were shaped and influenced by the combined experiences of the Gaisano family in the retail industry. It has an aggressive advertising and promotion strategy which calls for constant visibility in print, radio and television throughout the years. It enjoys the patronage of all types of customers and is the leading retail store in Cebu.

Metro’s vision is to become a world-class retail store and enjoy the process of attaining it. Its mission is to provide quality environment, quality service, and to be responsive to customers’ needs in the highest current standard. Metro was built firmly on the philosophy of customer centeredness.

Today, Metro is known for its comfortable and friendly outlets that offer a wide assortment of fresh and quality products at reasonable prices. Their retail activities typically range from supermarket operations, department store operations, appliances, fine jewelry, pharmacy, fast food outlets, bakeshops, coffee shops, photocopying, framing, embroidery and gift wrapping services.

Through a series of expansions and partnerships with Ayala Land Inc. and other major developers, it now operates 16 retail outlets, located in the city of Cebu with two, Mandaue City, Toledo City, Lapu-Lapu City, City of Naga, Bogo City. In Luzon area Legazpi City, Lucena City, Bonifacio Global City, Taguig City, Angeles City, Pampanga, Alabang, Muntinlupa, Binodo Manila and Imus, Cavit. And also the nearby Visayan province of Maasin Southern Leyte, Tacloban City and Talisay City, Negros Occidental. All Metro Department Stores and Supermarkets are located inside multi-level store buildings.



VICSAL also penetrated the world of stock brokerage, banking and other financial services, real estate development and travel agency. It has diversified and entered into other ventures which now include the following business interests:

RETAIL - Metro Department Stores and Supermarkets, Fast Food and Restaurant


Vicsal Investment, Inc.

Investment House - Vicsal Investment Inc.

VICSAL has embarked on a new business venture, which is to assist private and public corporations increase capitalization. Vicsal Investment Inc., incorporated in August 31, 2007, was created to perform three functions of an investment house — underwriting securities for companies, brokering treasury notes and brokering equities. The company also provides strategic advisory services for mergers, acquisitions and other types of financial transactions. Other services include Fixed Income Investments, Equities Trading and Corporate Finance.

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Wealthbank Development Bank

Banking - Wealthbank

Established in 1966, WealthBank is now majority owned by the Vicsal Development Corporation with equity participation of the Development Bank of the Philippines (DBP) and Land Bank of the Philippines (LBP). WealthBank now has a network of 11 branches in major cities of the southern and central parts of the country. The Bank’s strong commitment to prompt and speedy response to financial needs specifically appealed to the small and medium enterprises sector, the bank’s core clientele.

The bank adheres to Good Corporate Governance and the guiding principles of competence and conservatism, merged with the values of prudence and dedication. To this end, it has assembled a team of excellent veteran bankers and has invested in Modern Information Technology/Computer Systems to achieve seamless servicing to its clients.

WealthBank aims to become one of the most respected financial institutions in the country, and to be ranked (in terms of total resources, networth and profitability) among the top 20 development banks with resource of P3.0 Billion and with a network of 15 branches by the end of 2010.

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Vicsal Securities and Stock Brokerage, Inc.

Stock Brokering - Vicsal Securities and Stock Brokerage, Inc.

Vicsal Securities and Stock Brokerage, Inc. is a domestic corporation, incorporated in the Philippines and was licensed by the Securities and Exchange Commission (SEC) to engage in buying, selling of, or dealing in stocks, bonds and other securities for its own account as a dealer or for the account of others as a dealer or for the account of others as a stockbroker and to render financial advisory services. The Company is both a stockholder of and a holder of an exchange trading right in the Philippine Stock Exchange, Inc. (PSE).

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Filipino Fund, Inc.

Mutual Fund - Filipino Fund, Inc.

A closed end investment fund managed by VICSAL, also listed in the Philippine Stock Exchange. At present, FFI has no business operations save for the normal trading of its shares in the Philippine Stock Exchange, and the maintenance of the residual investment portfolio, which is now almost entirely composed of shares in the Philippine Stock Index Fund, an index-tracking mutual fund created as part of the financial restructuring of the original FFI.

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Prime Asia Pawn & Jewelry Shop, Inc.

Other Finance Services - Prime Asia Pawn & Jewelry Shop, Inc.

Prime Asia Pawn & Jewelry Shop Inc., is duly registered with the Securities and Exchange Commission as well as the Bangko Sentral ng Pilipinas. It is an active member of the Chamber of Pawnbrokers of the Philippines. It started in 1993 with the opening of its first branch located in Colon St., Cebu City. With its steady growth and stability in the years that followed, Prime Asia is now recognized as one of the stalwarts in the pawnshop industry with its 100 branches spread all over the Visayas and Mindanao regions.

It is the first and only ISO-certified pawnshop in the Philippines at present. Clearly, one of the indications the Company is moving vigorously forward into the position of being among the top pawnshop companies in the country. Embarking on an ambitious expansion program will see it double its number of branches in the next couple of years, making Prime Asia Pawn & Jewelry Shops Inc., effectively in the top 5 pawnshops in the Philippines within that period.

With products and services ranging from Pawning (acceptance of jewelry and cellphones) to e-load and retailer SIM sales, Travel and Tours ticketing, to Western Union and its own Cash & Prenda Padala money transfers, the company has brought comfort and convenience to hundreds of thousands of customers, small and medium sized businesses, in and around the archipelago. Even more, Prime Asia promises to bring forth more products and services that will greatly alleviate the living conditions of its countrymen by way of easier loan outs on a more varied acceptance of valuable items and introduction of new products and services.

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Taft Property Venture Development

Residential and Commercial - Taft Property Venture Development Corporation

Founded in 1998, it manages the real estate interests of VICSAL. Taft Property has since developed 4 premium housing communities in Cebu City and has completed over 500 housing units. Its residential communities are privately-secured, environmentally sound, and most of all within close proximity to urban centers in Cebu. Projects include Nichols Park, Hacienda Salinas, Palm Heights and Palmas Verdes.

Recently, the company embarked on the development of a 5-hectare world class I.T. economic zone in Mandaue, the first of its kind in the city. It envisions to be a well-planned IT economic zone with world-class facilities for locators in the information technology services like software development, content development, hardware design, research and development services, computer-based support services, telecommunications and the like. The zone is registered and accredited with the Philippine Economic Zone Authority and features special government incentives for I.T. enterprises ready to locate in the zone.

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MALL OPERATIONS - Pacific Mall Corporation


Travel - Grand Holidays Travel and Tours, Inc.

Known for its great service and value-for-money packages, it is the number one travel agency in Visayas and Mindanao, and the only one outside Metro Manila to be voted into the Top 50 Travel Agents in the Philippines. It has also been a multiple recipient of the Gold award, both from Pacific Airways and Philippine Airlines.

Grand Holidays was organized in 1989 to provide quality service to the growing market of the Travel Industry in the region. Through the years, Grand Holidays has constantly surpassed the standards set by the International Air Transport Association (IATA) that guarantees clients prompt, competent, and dependable services anytime, anywhere linking directly through its Abacus Electronic Reservations System.

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Cargo Bayan, Inc.

Logistics - Cargo Bayan Inc.

Cargo Bayan Inc. is a Manila-based trucking company with the vision to cater to the growing trucking market of various shippers through revenue generation, where marketing strategies, plans and programs are focused on client's needs and satisfaction and to the offer the best trucking service at the right price.

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Social Responsibility - Vicsal Foundation, Incorporated

Vicsal Foundation, Incorporated (VSF) was created and organized as an expression of corporate social responsibility of the Metro Gaisano family. The name “Vicsal” is a combination of the first names of Victor and Sally Gaisano, the founders towards education (through scholarship grants), community outreach, environmental conservation and management, and donation of physical infrastructure. VSF envisions a society where citizens are skilled and self-sufficient, and the underprivileged, the sick and the victims of calamities are empowered.

As a full-fledged non-stock, non-profit private domestic corporation, VSF receives its income primarily from donations of the Vicsal Development Corporation. It is governed by a 9-person Board of Trustees while its day-to-day operations are handled by a Program & Evaluation Officer/Administrative Officer and supported by a team of volunteers coming from VICSAL. VSF has been duly accredited by the Philippine Council for NGO Certification and is currently enjoying a status of being a tax-exempt and qualified-donee institution registered with the Bureau of Internal Revenue. VSF is a member of the League of Corporate Foundations.

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