shopping malls industry retail industry founded c.m. recto ave. manila philippines 1972 headquarters c.m. recto ave. sta . cruz manila philippines number of locations 2 branches as of january 1 2016 area served metro manila key people jose go founder and ceo website ever gotesco malls facebook page ever gotesco malls group of companies under the trade name ever gotesco malls is a shopping mall and retail operator in metro manila . it was incorporated on 1972 by chinese filipino entrepreneur jose go whose main vision was to develop conduct operate and maintain affordable and accessible commercial shopping malls for the filipino masses . its main competitors are isetann gaisano megaworld lifestyle malls walter mart malls ortigas malls starmalls robinsons malls sm prime holdings and ayala malls . it has 2 branches as of new year s day 2016 . contents 1 history 2 branches 2.1 current 2.2 former 3 gallery 4 references 5 external links history edit ever gotesco malls group of companies launched in 1972 1 when jose go aged 24 opened the five story ever emporium on c.m. recto ave. in downtown manila . the declaration of martial law by then president marcos helped his business take off as the economy was continuously boosting and prices of commodities were kept in check . go took advantage of the low priced merchandise and was one of the pioneers of one stop shopping . his store sold low priced goods to thousands of low income students who survived on small allowances . the huge volumes sold made up for the goods thin margins . by 1975 go had made ever emporium a popular retail name . from recto he expanded to caloocan city where he built the 6 million 40 000 square meter ever gotesco mall that lured the low to middle income residents of the populous city to shop in droves . with two major shopping malls in the capital and two more elsewhere go formed ever gotesco resources and holdings egrh in 1996 . an initial public offering ipo that year gave him enough ammunition to expand into uncharted territory . egrh acquired a struggling publicly listed mining company called suricon that was later renamed gotesco land . he also invested in a housing project in bulacan north caloocan and a hot springs resort in laguna . he bought a small bank that later became his biggest headache a golf course in tagaytay and purchase 20 percent worth of stocks in a paging company . his goal then was ambitious to build a 2 billion retail and property conglomerate that churns out 350 million a year . unfortunately the asian financial crisis caught him aggressively expanding into other businesses using borrowed dollars . the crisis doubled his debts and forced him to tap into the deposits of his wholly owned orient commercial banking corp. the bank went down in history as the first victim of the asian crisis when it closed on valentine s day 1998 . until now go is still fighting the foreclosure of his assets by the central bank which lent over p8 billion to orient bank . he is also facing multibillion peso lawsuits and all his properties have been garnished by the courts . on march 17 2012 ever gotesco grand central mall in caloocan burned down in a devastating fire which raged for more than 20 hours . the mall closed down after fire brought under control . branches edit current edit name date opened address ever gotesco commonwealth center 1994 commonwealth ave cor . batasan hills quezon city metro manila ever gotesco manila plaza 1996 c. m. recto ave. quiapo manila metro manila former edit name date opened date closed address ever gotesco grand central now acquired by sm prime holdings & to be reconstructed & renamed as sm city caloocan 1988 march 17 2012 rizal ave ext east grace park cor . bustamante street caloocan metro manila ever gotesco ortigas complex now acquired by sm prime holdings & to be redeveloped & renamed as sm city east ortigas october 1995 january 1 2016 ortigas ave ext brgy . sta . lucia pasig metro manila gallery edit ever department store the manila plaza the manila plaza ever ortigas now sm city east ortigas references edit history of ever gotesco malls external links edit ever gotesco malls . official facebook page ever gotesco malls . official twitter page v t e philippine shopping mall brands major sm supermalls robinsons malls ayala malls minor ever gotesco malls isetann regional gaisano malls mindanao gaisano grand visayas and mindanao gaisano capital mindoro visayas and mindanao city supermarket pangasinan kcc malls soccsksargen citymall nationwide starmalls luzon and visayas vista malls metro manila megaworld lifestyle malls defunct uniwide sales retrieved from https en.wikipedia.org w index.php title ever gotesco malls & oldid 738889378 categories companies established in 1972retail companies of the philippinescompanies based in manila navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main 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