Pardo, Cojuangco team up for franchising business

Philippine Long Distance Telephone Co. (PLDT) chairman Antonio "Tony Boy" Cojuanco, along with former Finance and Trade Secretary Jose T. Pardo and Eldon Cruz, the son-in-law of former President Corazon Aquino, are going into the franchising and real estate/mall development sector.

According to Pardo, they are setting up franchise mini-malls to be called Dream Plaza all over the country.

The Dream Plaza mini-malls, which are intended for idle plots of land in the provinces measuring from 500 square meters up to 5,000 square meters, would boast of digital, satellite-fed theater as the anchor and small shops and boutiques.

The Dream Plaza franchise would be offered through the Cojuanco-holding company Philippine Multimedia Systems, Inc. (PMSI) which also owns Dream Broadcasting Corp. which would provide the digital, satellite-fed movies to the Dream Plaza theaters.

The theaters would seat up to 100 people and would do away the current film reels which normally are sent to the provinces much later and results in old movies.

The digital, satellite-fed movies would be up-to-date with the movies shown in Metro Manila, Pardo said, and would be a better quality.

The Dream Plaza malls, Pardo disclosed, would hopefully become the new central plazas in the provinces, providing entertainment and recreation.

The concept, Pardo admitted, is new and is based on creating a market rather than on just meeting a need.

Even though the first Dream Plaza is still to be inaugurated, Pardo revealed that there is already a lot of interest in the mini-mall franchise.

At least 150 offers have been received by PMSI already.

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