MANILA – CityMall Commercial Centers Inc. (CMCCI), the mall development arm of DoubleDragon Properties Corp., is set to build a community mall in Bacolod City as part of the Goldenfields Commercial Complex.
In a disclosure to the stock exchange on Wednesday, CMCCI said it has secured a 1.1-hectare prime commercial lot along Araneta St. to build the CityMall-Goldenfields Bacolod.
The project is part of a joint venture involving the redevelopment of a 6-hectare mixed-use complex to serve the north of Bacolod.
The site is across the old Bacolod airport and near the vicinity of residential subdivisions, schools, and other commercial establishments.
“Bacolod has an upbeat local economy and unlimited opportunities for trade and investments because the city is home to many of the country’s top corporations,” the firm said.
It added that the Bacolod mall puts the company on track to meet its goal of completing and operating 25 CityMalls by the end of 2015.
DoubleDragon, the property firm of Mang Inasal founder Edgar “Injap” Sia II and Jollibee Foods owner Tony Tan Caktiong, is planning to open 100 CityMalls by 2020, mostly located outside Metro Manila.
A CityMall outlet is a one-floor strip mall with 5,000 to 10,000 square meters of retail space. The first CityMall will be built in Roxas City, and is expected to be completed within 2014.