by Penny Angeles-Tan | Jul 17, 2018 | Business
Listed property developer DoubleDragon Properties Corporation recently inaugurated the DoubleDragon Plaza, the flagship development in the progressive DD Meridian Park in the Bay Area, Pasay City.
DoubleDragon (DD) Plaza, certified in Leadership in Energy and Environmental Design (LEED), has over 130,000 square meters of leasable space and will form part of the DD Meridian Park complex with 280,000 square meters of leasable space. The property consists of four office towers and will have a capacity of 50,000 employees of its tenants.
Each tower houses seven floors of office space with their own individual elevator lobbies as well as access to the main retail area, which offers an additional 12,000 square meters. Aside from the variety of retail and dining tenants, the property is home to Islas Pinas, an indoor Filipino food and heritage village that showcases Filipino cuisine, culture, and handicrafts.
The DoubleDragon Plaza is the first phase of DoubleDragon’s 4.75-hectare DD Meridian Park. Currently underway is the completion of two more office towers called DoubleDragon Center East and West with a gross leasable space of 30,000 square meters, both slated to be finished within the year. Phases three and four consist of the DoubleDragon Tower, a premium Grade A office building, and the DD-Ascott Meridian Park, a luxury serviced apartment operated by Ascott with more than 300 units.
For more information, visit www.doubledragon.com.ph.
by Penny Angeles-Tan | May 11, 2018 | Business
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 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.
by Penny Angeles-Tan | Dec 14, 2017 | Business
CityMall is the latest mall operator to partner with the Department of Trade and Industry (DTI) for their Go Lokal! Program, with the inauguration of its Go Lokal! outlet at CityMall-Anabu in Imus, Cavite, marking as well the opening of Go Lokal! in CityMalls around the country including as far as Boracay in Visayas and Cotabato in Mindanao.
Banking on CityMall’s growing network throughout the country, in prime areas across the provinces, CityMall Go Lokal! showcase items that are products of MSMEs (Micro, Small and Medium Enterprises) to help them access the mainstream market.
Quality and innovative artisanal Philippine products, crafted, designed, and produced by the country’s micro, small, and medium enterprises are now available at Go Lokal! in CityMalls nationwide.
Go Lokal! is a retail concept store that showcases quality and innovative artisanal Philippine products, crafted, designed, and produced by the country’s micro, small, and medium enterprises (MSMEs) from indigenous materials. These products received extensive product development assistance from the Product Specialists of the Design Center of the Philippines, a unit of the DTI. CityMall is owned by publicly listed real estate firm DoubleDragon Properties, the property arm of Mang Inasal founder Edgar “Injap” Sia II and Jollibee Foods Corp.
(L-R) Edgar “Injap” Sia, DoubleDragon chairman; Ramon Lopez, DTI secretary; and Ferdinand Sia, DoubleDragon president at Go Lokal! launch in CityMall-Anabu and CityMalls nationwide
“We are pleased to be working with the DTI on Go Lokal!,” says Sia, DoubleDragon Properties chairman. “With CityMalls across the country serving as the platform for helping micro entrepreneurs from the region, we are confident that through this project, these micro entrepreneurs can eventually grow and expand their businesses not just locally but globally as well.”
CityMall looks towards opening 100 CityMalls by 2020 in provincial Luzon, Visayas and Mindanao.
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