DoubleDragon completes Capiz mall

MANILA, Philippines - DoubleDragon Properties Corp. has completed construction of the first of 25 community malls to rise across the country by the end of next year.

In a disclosure to the stock exchange, the property joint venture of the founders of grilled chicken chain Mang Inasal and fastfood giant Jollibee Foods Corp. announced the completion of CityMall-Arnaldo Roxas in Capiz.

The mall is situated in a 1.2- hectare prime property along Arnaldo Blvd. in Roxas City.

DoubleDragon said the mall is already fully leased out and is set for grand opening once all the tenants have completed their store renovations.

‘The first CityMall construction completion took eight months to build. Our goal is after building the first five, the sixth onwards should take less time as the team have already gained improved construction efficiency and momentum,” said DoubleDragon chairman Edgar Sia II.

The property firm said six CityMall sites are currently in various stages of construction.

By the first half of next year, the company said construction of all other CityMalls would also be simultaneously in full swing.

DoubleDragon, through subsidiary CityMall Commercial Centers Inc. (CMCCI), plans to complete 25 CityMalls by the end of 2015 and reach 100 by 2020.

“Our dynamic team are all set and determined to make CityMall the most successful community mall in the Philippines, and we aspire to eventually see a CityMall in every vibrant community around the country serving the daily necessities of our fellow Filipino shoppers,” Sia said.