DoubleDragon eyes 100 Filipino malls
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A Philippines property developer has raised US$112 million to assist fund the formidable improvement plan for 100 purchasing malls throughout the nation.
DoubleDragon Properties Corp plans to roll out the 100 CityMalls-branded centres by 2020 – the primary 25 by the top of this yr.
The compact group malls will comprise between 5000 and 10,000 sqm of leasable area every, with the corporate projecting it’s going to have 1 million sqm of leasable area by 2020.
DoubleDragon chief info officer Joselito Barerra Jr stated successfuly elevating the money – in seven yr company notes – demonstrates robust investor confidence in technique.
The publicly listed property firm is collectively owned by the founding father of quick meals big Jollibee Meals, Tony Tan Caktiong, and restaurateur Edga Sia Jr. Unsurprisingly, the department stores will prominently function Jollibee eating places.
Questions & Answers
Q.Who are the primary owners of DoubleDragon Properties Corp?
Who are the primary owners of DoubleDragon Properties Corp?
The company is jointly owned by Tony Tan Caktiong, founder of Jollibee Foods, and restaurateur Edga Sia Jr. Both are significant figures in the Filipino business landscape.
Q.What is the projected total leasable area once all 100 CityMalls are complete?
What is the projected total leasable area once all 100 CityMalls are complete?
DoubleDragon Properties Corp expects to achieve a total of 1 million square metres of leasable area by the year 2020. Each mall will offer 5000 to 10,000 sqm.
Q.What specific type of businesses will be prominently featured within the new CityMalls?
What specific type of businesses will be prominently featured within the new CityMalls?
Given the co-ownership structure, Jollibee restaurants will be a prominent feature in the new CityMalls. This links directly to one of the company's founders.
Q.What proportion of the planned CityMalls are expected to be operational by the end of this year?
What proportion of the planned CityMalls are expected to be operational by the end of this year?
The company plans to have the first 25 CityMalls rolled out and operational by the end of this year. This represents a quarter of their total development target.
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Is DoubleDragon's 100-mall plan achievable by 2020?
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