DoubleDragon Secures 1.1ha Prime Commercial Lot in Kalibo

Makati—(PHStocks)—CityMall Commercial Centers Inc. (CMCCI), a subsidiary of DoubleDragon Properties Corp. (PSE: DD), has secured a prime commercial lot with an area of 1.1ha along a new road to be built that will cut across and connect Mabini and Toting Reyes Streets in the heart of Kalibo, Aklan.

The site is bounded by Kalibo Public Market, Kalibo Pilot Elementary School, Aklan Memorial Hospital, Dr. Rafael S. Tumbokon Memorial Hospital and Kalibo Institute, and is located within the commercial and residential zones in the town proper of Kalibo.

Kalibo, the capital of Aklan, in the northwest of Panay Island, is a First Class Municipality and the “International Gateway” of the Western Visayas Region, being the jump-off point to Boracay.

As a major tourism entryway, the inflow of tourists to Boracay Island catalyzes rapid economic expansion and municipal landscape development – making it ideal to put up a CityMall in the area.

CMCCI is set to uplift the community mall standard and is seen to revolutionize the community mall industry in the Philippines.

DoubleDragon is set to reach 1 million square meters of total leasable spaces inventory by 2020 from the 100 CityMall community malls and other commercial and office developments.