DoubleDragon to build CityMall in Boracay
MANILA, Philippines – CityMall Commercial Centers Inc. (CMCCI), the mall development arm of DoubleDragon Properties Corp., said on Thursday that it is planning to build a CityMall on Boracay Island.
CMCCI said that the CityMall in Boracay will be the first community mall to have a full-size supermarket that sells a wide selection of grocery items, fresh meats, and vegetables.
The mall developer said because of the supermarket, CityMall-Boracay will not only benefit tourists, but the local restaurants and resorts as well.
“CityMall-Boracay is seen to promote the local economy through the creation of additional local employment and by encouraging budding entrepreneurs to locate their businesses in the CityMall,” the firm said in a disclosure to the stock exchange.
The mall will be built in a 1-hectare commercial lot in the corner of Diniwid Beach Road and Boracay Tambisaan Jetty Port Road in Station 1. It is located across the main gate of Fairways and Bluewaters Resort Golf and Country Club.
“The road further up leads to several top resorts in the island and is envisioned to become the melting pot not only for the local and foreign tourists but also the thousands of local residents and workforce of the island from Station 1, 2 and 3,” CMCCI said.
CMCCI said it has signed a 26-year long-term lease agreement for the commercial lot in Boracay, which is considered as a premier tourist destination of the country, and one of the world’s best beaches.
In 2012, Boracay was awarded as the best island in the world from the international travel magazine Travel + Leisure.
A CityMall will also be built in a 1.1-hectare lot in Kalibo, which serves as the jump-off point to Boracay Island.
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 in the next 5 years, 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 by December 2014. – ABS-CBNnews.com