Feb. 25, 2015 – [Interaksyon] DoubleDragon picks 5 more sites for chain of community malls
February 25, 2015
MANILA – DoubleDragon is expanding the footprint of its soon-to-rise chain of community malls.
In a disclosure to the Philippine Stock Exchange, DoubleDragon Properties Corporation said its unit, CityMall Commercial Centers Inc (CMCCI) has secured 5 more sites, including one in Dumaguete City, Negros Oriental; one in Tagum City, Davao del Norte; one Iloilo City; two in Tarlac City.
This brings to 20 the total number of sites for the company’s chain of community malls under the “CityMall” brand.
The Dumaguete project will occupy a 1.3-hectare corner lot along Veterans Avenue National Highway (Dumaguete-Bacong Road) at the heart of the city, which is the most populous in the province of Negros Oriental. The project site is beside the GSIS office, across the Negros Oriental Provincial Hospital, and near the Siliman University and the St. Paul University.
The Tagum project occupies a 1.9-hectare lot at the corner of Lapu-Lapu Extension and Maharlika Highway, which is the main road that neighboring towns to the capital city of Davao del Norte. The project site is surrounded by schools, transport terminals, subdivisions, hospitals, churches, government offices, hotels and commercial establishments.
The Iloilo project in Parola will become part of another DoubleDragon project, the Iloilo-Guimaras Ferry Terminal, a 1.3-hectare fully landscaped complex which will house a terminal for ferries plying the routes of Guimaras and Iloilo. The Ferry Terminal Complex is envisioned to provide a world-class ferry terminal with the CityMall-Parola Iloilo inside the complex to provide commuters an array of food and retail choices.
The first of two Tarlac projects will be located at the southern terminus of the Subic–Clark–Tarlac Expressway (SCTEx), which is a 93.77-kilometer four-lane expressway north of Manila built by the Bases Conversion and Development Authority (BCDA). The southern terminus of the SCTEX is at the Subic Bay Freeport Zone in Zambales.
The SCTEX project site will be integral to Seaoil Philippines’ 24/7 refuelling station in the area.
Lastly, the CityMall-Tarlac MacArthur will rise on a 1.9-hectare corner lot along the MacArthur Highway and would be bounded by subdivisions, commercial establishments, schools and churches. DoubleDragon said the company will capitalize on Tarlac’s location as a pitstop for travellers going to northern Luzon.
DoubleDragon aims to put up 25 CityMalls this year and increase that to 100 by 2020. CMCCI is jointly owned by DoubleDragon and Henry Sy Sr. of the SM Group.