Signing led by DD Chairman Edgar “Injap” Sia II and ABS-CBN Chairman Gabby Lopez with DD President Ferdinand Sia, ABS-CBN President Carlo Katigbak and ABS-CBN Chief Content Officer Malou Santos
CITYMALL Commercial Centers Inc. (CityMall) and ABS-CBN Corporation (ABS-CBN) have signed a Partnership Agreement today to partner in the roll out of cinemas in various provincial areas of the country.
In the second quarter of 2017, 10 cinemas are scheduled to open in CityMalls located in Tagum City-Davao, Victorias City-Negros, Anabu-Imus Cavite, Cotabato City, Bulua-Cagayan de Oro City, Koronodal City, Consolacion-Cebu, Mandalagan-Bacolod City, Sta. Rosa-Nueva Ecija and Dumaguete City. Each cinema will have a seating capacity of 100 to 120 seats.
The subsidiary of ABS-CBN, Star Cinema, is the country’s largest motion picture company and has produced the highest grossing Filipino films of all time. In addition to being able to see Filipino Blockbusters on release date, moviegoers can also expect to see International Box Office Films and enjoy cutting edge digital facilities at the CityMall Cinemas.
CityMall intends to fill up the gap in the provincial cinema space since majority of the over 140 cities in the Philippines do not have cinemas today.
“Today, marks the completion of the three strong corner points which will solidify the future dominance of CityMall all over the country. We will now have the best modern retail brands, the strongest fastfood brands, and leading entertainment all in one roof.” said Edgar “Injap” Sia II, DoubleDragon Properties Corp. Chairman.
“CityMall’s strategic partnerships with the SM Group, the country’s largest retailer, the Jollibee Group, the country’s largest fastfood chain and now, the ABS-CBN Group, the country’s largest media and entertainment company is a dream combination.” said Hannah Yulo, DoubleDragon Properties Corp. Chief Investment Officer.
CityMall also aims to roll out cinemas in all of its other CityMall sites across the country.
CityMall is 66% owned by leading property developer, DoubleDragon Properties Corp. (DD), and 34% owned by the leading conglomerate, SM Investments Corp. (SMIC). /PR