New mall to rise in Cotabato City
Economic News • 02:51 AM Tue Sep 9, 2014
10,723
By:
Edwin O. Fernandez
Cotabato City will have like CityMall Bohol in 2015
COTABATO CITY (Sept. 8/NDBC) – The famous
CityMalls in the country, managed by DoubleDragon Properties Corporation, will soon
rise in this city, the Philippine Stock Exchange reported on its site Monday.
CityMall Commercial Centers Inc.
(CMCCI), the shopping mall development arm of DoubleDragon, said the
CityMall-Cotabato City is expected to be completed by the third quarter of
2015.
Edgar Sia, DoubleDragon chair, said the
CityMall in Cotabato City is among the 25 malls to be put in the country up
until the end of next year, mostly in Visayas and Mindanao.
Cotabato City, recently named one of
the top 50 mostcompetitive cities in the country, is seen as the upcoming regional seat of the Bangsamoro government which is expected to invite more investors once in place.Sia said CMCCI is putting up the
Cotabato City mall branch at the 1.5 hectare property along Gov. Gutierrez
Avenue in Barangay Rosary Heights 9.
It will rise in front of the Cotabato
City Hall, known as Peoples Palace,” particularly situated in a high-density
area near schools and residential subdivisions.
The company believes that this
additional investment in Cotabato City is expected to provide substantial
additional decent employment to the local workforce of the city,” the CMCCI disclosure
submitted to the PSE said.
The planned mall was believed to have
been conceptualized in anticipation of the signing of the government and Moro
rebel peace agreement and the establishment of the new political entity in the
island – the Bangsamoro government.
Emerging as Region-12 and Autonomous
Region in Muslim Mindanao (ARMM) center for economic activities, trade and
finance, education and other social services, Cotabato City is preparing itself
to host another mall whose owners have already established smaller food chain
in the city.
Jollibee Foods and Mang Inasal food outlets, both operating in the city for several years now,were respectively founded by Tony Tan Caktiong and Edgar Sia, respectively.
The duo was also behind the DoubleDragon
Properties Corporation.(NDBC)