Livecor registers improved performance

The government-owned Livelihood Corp. (Livecor) has registered a marked improvement in both its financial and operations performance.

This after Bernardo "Jojo" Mitra took over as Livecor administrator 10 months ago.

As part of an overall turnaround strategy for Livecor, rehabilitation of Livecor-owned property ventures is currently being undertaken to increase real estate assets’ quality and value for higher revenue potential and improved services to tenants. At the Mahar-lika Livelihood Complex in Baguio City, six escalators started operating after undergoing rehabilitation for the first time in 19 years, four comfort rooms were renovated and the ventilation of the fast food center was upgraded. Improvements and renovations also took place at the Angeles Livelihood Complex in Angeles City to make the venue more attractive to prospective lessees. These changes included the approval of a two-year moratorium on rate increases to existing lessees, upgrading of the Complex’s fire-fighting system and the initiation of an efficient garbage disposal system. The Complex will also soon undergo renovation of its existing facilities and will be repositioned and launched as an Agri- Tech Investment Park.

Other developments at Livecor under the Mitra administration include the reactivation of a tie-up with the Public Estate Authority for the proposed redevelopment of the Metromart Complex in Mandaluyong City and the development of the Midmart Complex in Quezon City as a three-level commercial complex. In cooperation with Butil, the largest farmers’ organization in the country, a Tindahan ni Gloria will be put up at the Complex’s ground floor to house fresh produce of farmers and fisher folks with the long-term goal of directly connecting these producers to consumers.