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Twelfth shopping mall to be constructed in Quezon by DoubleDragon



DoubleDragon Properties Corp., a property development company, has acquired its 12th shopping mall site in the Philippines.
It is preparing to erect a community shopping mall to be located in Tiaong, Quezon, under the ‘CityMall’ chain.

DoubleDragon confirmed the signature of a 26-year long-term lease by its flagship subsidiary CityMall Commercial Centers Inc. (CMCCI), in a disclosure to the Philippine Stock Exchange on Monday.  The lease is for prime commercial property, measuring 8000m², within the ‘Tagpuan sa Villa Escudero’ complex, situated along the Maharlika Highway in Barangay Lalig in Tiaong.

Maharlika Highway is known as one of the chief transport backbones in the country and is the main access to Lucena and other large neighboring cities in the Quezon province.
The development of a CityMall in this area will attract travelers and motorists travelling on the Maharlika Highway.

DoubleDragon stated that securing this 12th site has put it on track to meet its ultimate goal of completing and operating 25 CityMalls by the close of 2015 and 100 CityMalls by the close of 2020, all to be placed in strategic, prime locations.

The creation of this type of community mall chains, along with office developments and other commercial developments, will result in a stock of one million square meters of leasable area by DoubleDragon by 2020.

DoubleDragon owns 66% of its subsidiary CMCCI, with Henry Sy-led SM Investments Corp. holding a 34% share.  The ‘CityMall’ chain is expected to become one of the biggest branded community mall networks in the country, holding floor space of around 5000 to 10000m² at each location.


More about shopping malls in Philippines

YESTERDAY, France:
French chain of department stores Galeries Lafayette has announced a new service for customers during the closing of stores.
YESTERDAY, USA:
The chain of coffee shops adapts to the realities of the post-quarantine world and focuses on drive-thrus, self-service, and delivery.
DAY BEFORE YESTERDAY, Italy:
Due to the sharp decline in interest in fashion in the midst of the pandemic, the company is abandoning the traditional calendar of shows and moving to an off-season schedule.
DAY BEFORE YESTERDAY, Germany:
The masks to protect against coronavirus are called Face Covers and are made from recycled materials.
May 25, 2020, United Kingdom:
Due to the coronavirus pandemic, more and more customers are adopting the habits of the younger generation and do not want to constantly change their wardrobe.
May 25, 2020, Slovenia:
SES Spar European Shopping Centers opened ALEJA Center in Ljubljana on Wednesday, 20 May 2020.
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