Tycoons Edgar “Injap” Sia II and Tony Tan Caktiong’s DoubleDragon is set to become the country’s third biggest mall developer in the Philippines with the opening of its 50th CityMall.
The new shopping center, rising across the Antique provincial capitol, will open by the second half of 2024, DoubleDragon said in a stock exchange filing on Thursday.
The company’s aggressive push into provincial areas comes at a time when other developers are ramping up their presence outside Metro Manila, where the market for new developments has become saturated.
DoubleDragon said new malls across the country will reach optimal business performance by next year.
