PROPERTY developer DoubleDragon Properties Corp. said on Monday it has raised P5 billion from the debt market to finance the community mall expansion program of its subsidiary City Mall Commercial Centers Inc. (CMCCI).

“(The notes issue) signifies strong confidence in DoubleDragon’s strategic direction and will add momentum to the company’s target rollout of 100 CityMalls by 2020,” it said in a disclosure to the Philippine Stock Exchange.