{"id":27405,"date":"2016-09-27T13:49:18","date_gmt":"2016-09-27T06:49:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-philippine-fast-food-giants-team-up-to-build-a-shopping-mall-empire\/"},"modified":"2016-09-27T13:51:37","modified_gmt":"2016-09-27T06:51:37","slug":"two-philippine-fast-food-giants-team-up-to-build-a-shopping-mall-empire","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/two-philippine-fast-food-giants-team-up-to-build-a-shopping-mall-empire\/","title":{"rendered":"Two Philippine fast-food giants team up to build a shopping mall empire"},"content":{"rendered":"


\nThe SM Group connection will undoubtedly\u00a0help
\nRoxas Boulevard, Manila. AAR Studio\/Shutterstock.com
\nAsk anyone in Manlia where they go shopping over the weekend and the responses are likely to be unanimous:\u00a0Ayala, SM, and Robinsons shopping malls
\nBut that could soon change.
\nDouble Dragon, the property development firm owned by the founders of Mang Inasal and Jollibee Foods Corp, Edgar Sia and Tony Tan Caktiong, is planning to construct 100 CityMalls around the archipelago by 2020. With 53 sites around the country already earmarked for these retail centres, Double Dragon could be looking at a total leasable space of 1 million square metres.
\nSprawling from 5,000 to 10,000 square metres, CityMalls are designed as community malls that serve as lynchpins for their surrounding neighborhoods rather than titanic complexes on the scale of SM MegaMall or Ayala\u2019s Greenbelt. The eight existing CityMall branches are located in provincial cities such as Roxas, Imus, and Zamboanga, communities not yet served by established retail players like Ayala Land and Robinsons Land.
\nDouble Dragon\u2019s stock has surged 140 percent: the best performer on the Philippine Stock Exchange\u2019s property subindex to date this year. On Friday, Double Dragon shares hovered at 59 pesos, the Nikkei Asian Review reported.
\nMore: Local and foreign developers plan luxury projects in Philippine provinces
\nWhile it does not intend to corner the markets served by those corporations, Double Dragon is exploiting its connection to SM Prime Holdings as a first-mover advantage in those underserved communities. SM Group owns a 34 percent stake in Double Dragon, ensuring the mall operator\u2019s tenancy in CityMalls.
\nIn addition to its provincial pivot, Double Dragon is developing a 4.75-hectare mixed-use project called The Meridian Park near SM\u2019s Mall of Asia. The centerpiece is a 90,200-square-metre business process outsourcing (BPO) campus, which will start construction by the last quarter of the year. Upon its completion in 2020, The Meridian Park will offer serviced apartments.
\nDouble Dragon is developing the community malls in conjunction with its forays into residential property development, which include successful projects such as W.H. Taft Residences, a 31-storey condominium block beside the De La Salle University and The SkySuites Tower, a 38-storey block where EDSA and Quezon Avenue intersect.
\n\u201cI really like the [real estate]business, but it needs substantial resources,\u201d Sia told the Nikkei Asian Review earlier this month.
\nRead next: \u2018So this is where it\u2019s all going to end\u2026\u2019
\n
\nSource : property-report.com
\nRead more…Two Philippine fast-food giants team up to build a shopping mall empire<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The SM Group connection will undoubtedly\u00a0help Roxas Boulevard, Manila. AAR Studio\/Shutterstock.com Ask anyone in Manlia...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-27405","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-781","jetpack-related-posts":[{"id":14444,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/philippine-mall-chain-sm-prime-eyes-southeast-asian-domination\/","url_meta":{"origin":27405,"position":0},"title":"Philippine mall chain SM Prime eyes Southeast Asian domination","date":"May 26, 2016","format":false,"excerpt":"\r The 2014 Best Developer (Philippines) winner is looking at its ASEAN neighbours for expansion opportunities SM City Xiamen in China (image credit: Manila Bulletin) Managing a total retail space of 7.3 million sqm, Manila-based property conglomerate SM Prime Holdings Inc seems to be casting its net even wider. In\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75822,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-vanke-led-consortium-buys-20-malls-from-singapores-capitaland-for-us1-29-billion\/","url_meta":{"origin":27405,"position":1},"title":"China Vanke-led consortium buys 20 malls from Singapore\u2019s CapitaLand for US$1.29 billion","date":"January 5, 2018","format":false,"excerpt":"\r China Vanke, one of China\u2019s largest developers, its commercial property unit SCPG Commercial Real Estate and private equity company Hopu Investment Management have teamed up to acquire 20 shopping malls across China from Singapore\u2019s CapitaLand. The deal for the malls is worth 8.36 billion yuan (US$1.29 billion), the buyers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":9278,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/first-of-alef-groups-zero6-malls-to-open-in-sharjah\/","url_meta":{"origin":27405,"position":2},"title":"First of Alef Group's Zero6 malls to open in Sharjah","date":"March 28, 2016","format":false,"excerpt":"\r \r The first project to be undertaken by Sheikh Khalid bin Sultan's Alef Group - a community shopping centre branded as Zero6 - is set to open in April next year, according to the company's managing director Issa Ataya.Speaking at a ceremony to mark the start of construction at\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7756,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-increases-rent-in-shopping-spaces-including-the-dubai-mall\/","url_meta":{"origin":27405,"position":3},"title":"Emaar increases rent in shopping spaces including The Dubai Mall","date":"March 13, 2016","format":false,"excerpt":"\r \r One of Dubai's biggest landlords of shopping space has increased rents for retailers already tackling a slowdown in economic activity in the emirate. Emaar Malls, 84 per cent owned by parent Emaar, has raised rents at its properties, which include \"trophy asset\" The Dubai Mall, by 14 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7758,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/emaar-increases-retail-rent-in-shopping-spaces-including-the-dubai-mall\/","url_meta":{"origin":27405,"position":4},"title":"Emaar increases retail rent in shopping spaces including The Dubai Mall","date":"March 13, 2016","format":false,"excerpt":"\r \r One of Dubai's biggest landlords of shopping space has increased rents for retailers already tackling a slowdown in economic activity in the emirate. Emaar Malls, 84 per cent owned by parent Emaar, has raised rents at its properties, which include \"trophy asset\" The Dubai Mall, by 14 per\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119355,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-firm-china-overseas-land-investment-shrugs-aside-beijing-funding-curbs-to-acquire-zhuhai-plot-for-record-us1-6-billion\/","url_meta":{"origin":27405,"position":5},"title":"Property firm China Overseas Land & Investment shrugs aside Beijing funding curbs to acquire Zhuhai plot for record US$1.6 billion","date":"November 26, 2020","format":false,"excerpt":"\r Property developer China Overseas Land & Investment (Coli) has shrugged aside tightening government curbs on financing to acquire a residential and commercial plot in Zhuhai for the record sum of 10.5 billion yuan (US$1.6 billion), it said on Wednesday.The plot can yield 450,000 square metres in gross floor area,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27405"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=27405"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/27405\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=27405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=27405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=27405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}