doubledragon

DoubleDragon Properties, a listed property development firm, is keen on increasing its recurring income stream to as much as 90% by 2020. This was revealed during the recent launch of Hotel 101-Fort, the newest addition to their growing hotel portfolio that’s presently under construction in Taguig.

Doubledragon
DoubleDragon president Ferdinand Sia (far right) with (L-R) Hotel of Asia general manager Lei Apostol, DoubleDragon sales head Tina Dy, and DoubleDragon chief investment officer Hannah Yulo at the grand launch of DoubleDragon’s Hotel 101-Fort

This comes on the heels of P2.53 billion net profit posted last year, up by 71.8 percent from the previous year, boosted by higher recurring profits with rental revenues growing by 238.4 percent to P909.2 million or 19.8 percent of total revenues.

“Our target for 2020 is to have 1.2 million square meters of leasable space,” said DoubleDragon chief investment officer Hannah Yulo. “We’re very focused on 2020 target and its 5.5 billion net income target by 2020 because our main focus is to deliver the leasable space in the portfolio of DoubleDragon.”

To achieve this target, Yulo also shared that the company expects to derive recurring revenues from its hotel management arm, Hotel of Asia, Inc., which manages Hotel 101 and Jinjiang Inn, as well as through its newest venture, CentralHub, its industrial leasing subsidiary offering standardized multi-use warehouses for commissaries, logistics, and cold storage facilities.

Hotel 101-Fort is a 33-storey business and leisure hotel set on a 1,224 sq. m. lot. Hotel 101-Fort houses a total of 609 units. The unit owner’s share in revenue is 30% of gross revenues.

DoubleDragon also aims to ramp up its CityMall brand by building 100 malls in the provincial areas and to expand its Metro Manila office leasing portfolio, which includes the DD Meridian Park in the Bay Area and Jollibee Tower in Ortigas, with the latter set to be completed by end of 2018.

For more information, visit www.doubledragon.com.ph.

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By Penny Tan

Penny wears many hats. She is an educator, writer, editor, blogger, social media manager, web developer, and enthusiastic home baker and cook. As an educator, she teaches multimedia and web development at both the senior high and college level. On the side, she writes and edits textbooks, writes AVP scripts, manages clients’ social media accounts, designs websites for clients, and writes on her lifestyle blogs about family, health, pets, and cooking. At home she is the resident “chef” and enjoys trying out simple to complicated recipes every day for her family to enjoy from available ingredients – baked, fried, steamed, stewed, grilled, broiled – she likes to do them all. Making dishes from scratch is something she loves to do. She also likes experimenting and creating new dishes by building on ready-to-eat dishes that can be bought at supermarkets and groceries.

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