Another DoubleDragon mall to rise in Cebu

Philippine Daily Inquirer

12:10 am | Tuesday, June 10th, 2014

Property developer DoubleDragon Properties Corp. is building a second shopping mall in Cebu as part of its strategy to establish a chain of 100 shopping malls across the country by 2020.

In a disclosure to the Philippine Stock Exchange on Monday, DoubleDragon said its subsidiary CityMall Commercial Centers Inc. (CMCCI) had signed a 30-year long-term lease agreement with Dunes and Eagle Land Development Corp. for a prime commercial lot along N. Bacalso Avenue, in downtown Cebu for the construction of a “Grand CityMall.”

Bacalso Avenue is a national road that connects both the whole northern and southern parts of Cebu.

The property secured by DoubleDragon is right between an existing mall and the Cebu South Bus Terminal, and a few meters away from the soon-to-rise Cebu City Medical Center Hospital. The site is within the vicinity of Colon in downtown Cebu area, a vibrant and heavily populated shopping and business district.

The site location is also right across Librando Transit Terminal and is surrounded by several transport terminals, schools, residential communities and government offices.

The project will be the second CityMall to be built in Cebu. Earlier, CMCCI acquired a 1.02-hectare property from Sta. Lucia Realty Development Inc. near the municipal hall and San Isidro Church.

The group plans to put up community malls through the “CityMall” brand in prime locations mostly in the Visayas and Mindanao regions. The company envisions these malls to become the largest branded community mall chain in the Philippines.

CityMall is envisioned to become a household brand and become the preferred “everyday mall” of the future.

CMCCI is 66 percent owned by DoubleDragon and 34 percent owned by SM Investments Corp. Doris C. Dumlao

Follow Us

Other Stories:

PNB sets sights on state-run UCPB

SMC gets narrow window to defend Calax bid

Insular Life sees euro zone recovery

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94

seo tools