DoubleDragon completes construction of 1st CityMall

ABS-CBN News

Posted at Dec 15 2014 03:14 PM | Updated as of Dec 15 2014 11:14 PM

CityMall-Arnaldo Roxas

MANILA, Philippines - DoubleDragon Properties Corp., the property company owned by Jollibee founder Tony Tan Caktiong and Mang Inasal founder Edgar "Injap" Sia, said its subsidiary has completed construction on its first-ever CityMall.

The CityMall-Arnaldo Roxas is located on a 1.2 hectare property along Arnaldo Roxas Boulevard in Roxas City, Capiz.

The mall is already 100 percent leased out, and is scheduled to have a grand opening once tenants have completed store renovations.

The CityMall will have a food court area with Jollibee, Chowking, Greenwich and Mang Inasal outlets.

"The first CityMall construction completion took 8 months to build, our goal is after building the first 5 CityMalls, the sixth onwards should take less time as the team have already gained improved construction efficiency and momentum," DoubleDragon chairman Edgar Sia said.

There are six other CityMalls currently under construction.

"By the first half of 2015, all the other CityMalls will be simultaneously (be) under full-swing construction as the first 25 CityMalls are targeted to be completed by the end of 2015, all in line with the aim to reach 100 completed CityMalls by 2020," the company said.

The community malls are under DoubleDragon's subsidiary CityMall Commercial Centers Inc (CMCCI), which is co-owned by Henry Sy's SM Investments.