DoubleDragon Properties Corp.
...DTI partnership

DTI partners with DoubleDragon

The Department of Trade and Industry (DTI) has launched its partnership with listed property developer DoubleDragon Properties Corp. for the development of micro, small, and medium enterprises (MSMEs) in the provinces through the setting up of Go Lokal stores.

Under the partnership, DoubleDragon will operate and manage Go Lokal stores in all CityMalls branches nationwide.

DTI said its partnership with the country’s leading mall and department store chains would bring MSME products into the mainstream market.

The agency said it would also ensure a strong and nationwide presence of Go Lokal stores in prime locations for the convenience of the buying public.

“It provides market access to hundreds of MSME’s, as well as contributes to the upliftment of communities and other vulnerable sectors of society by apportioning part of store sales to community-based projects including drug rehabilitation,” the DTI said.

DoubleDragon Properties is a listed property and mall developer of Mang Inasal founder Edgar “Injap” Sia II and Jollibee Foods Corp. chairman Tony Tan Caktiong.

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The company has 25 CityMalls to date and plans to have a strong network of 100 CityMalls in the provincial areas of the Philippines by 2020.

Sia said CityMall’s relevance in the provincial areas is becoming more and more evident, driven by the organic shift from traditional retail to modern retail in the Tier3 provincial areas of the country and the noticeable penetration of e-commerce in the Tier1 urban areas of the country.

Aside from CityMall branches, Go Lokal outlets have also opened in malls owned by SM, Ayala and Robinsons.

Go Lokal is a design-led concept store and market platform created by the DTI to showcase modern and indigenous quality products crafted, designed, and created by innovative Philippine MSMEs.

Trade Secretary Ramon Lopez said the agency is targeting to have between five and eight Go Lokal stores opened by the end of the year.

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...I would also bet on the countryside these days and in the coming future

DoubleDragon bets big on countryside growth

DOUBLEDRAGON Properties Corp. is pushing through with its follow-on offering, as the property developer bets big on the growth in the countryside.

DoubleDragon is awaiting the go signal of the Securities and Exchange Commission (SEC) to launch the P7.3-billion share sale originally slated late last year.

“We are looking at launching the deal first half of this year,” DoubleDragon Chief Investment Officer Hannah M. Yulo said in a mobile phone message.

A newcomer in the property sector, DoubleDragon is focusing its expansion on second- and third-tier cities, with plans to build a network of industrial leasing hubs in 40 provinces and community malls in 100 cities.

“Everybody has to go there in the next two to five years so we’re getting there ahead,” DoubleDragon Co-Chairman Edgar “Injap” Sia II said in an interview.

“For a new player, we have to position just in time before everybody else will. Kung mahuli ka lang nang konti, wala ka na rin because we have less resources, less everything,” he added.

DoubleDragon plans to capitalize on the synergies between Central Hub and CityMalls since most of the latter’s tenants will need a commissary, cold storage, warehouse, distribution center and manufacturing facility to support their operations.

The venture into industrial leasing and hotels prompted DoubleDragon to upgrade its 2020 target for its leasable portfolio to 1.2 million square meters (sq.m.) from 1 million sq.m. and revise its net income goal to P5.5 billion from P4.8 billion.

Unable to compete in shopping mall and township development, DoubleDragon has found gaps in the fragmented property sector which have been overlooked by the industry behemoths.

“If we focus on areas that are already dominated by big players, it is difficult. Even if they stop growing in five years and we don’t sleep in five years, they are too far,” Mr. Sia said.

DoubleDragon courted investors in 2014 when it embarked on a P1-billion initial public offering with nothing to show except for a piece of land and a vision to make the company one of the country’s biggest property developers.

Three years after its debut, DoubleDragon has made progress on that promise and is coming back to the equities market with a follow-on offering that will cement the foundation of the company and move it a step closer towards joining the big league — the Philippine Stock Exchange index.

“This is the best time to provide that window for investors to start taking a position in the company if they think we can deliver and make the company really grow beyond 2020,” Mr. Sia said.

“Confidence will be far higher because it looks so far impossible then three years later it happened. It will strengthen the company in all aspects especially in terms of its credibility and that will translate to opening up to extraordinary opportunities to further grow exponentially beyond 2020,” he added.

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POGO drives demand for DD Meridian rental

Double Dragon’s DD Meridian Park in the Bay Area is allotting bulk of its space for the fast growing Philippine Offshore Gaming Operator (POGO) business.

The first phase of the project, DoubleDragon Plaza, will have at least 130,000 square meters of leasable space across four office towers.

 DoubleDragon chairman Edgar “Injap” Sia II said about 60 percent of DoubleDragon Plaza is for POGO, while the rest is for corporate tenants.

 Phase 2 will commence in December this year and will have about 30,000 sqm.  The third phase, on the other hand, will have 47,000 sqm.

Sia said the location of the project is ideal for offshore gaming operators.

“Bay City is a gaming area and the local government is already familiar with the needs of the gaming companies,” he said.

There will also be business process outsourcing companies, Sia said.

As soon as the project is completed, DD Meridian Park will have a total gross floor area of 33.4 hectares and generate over P1.6 billion in annual rental revenue.

POGO was introduced by the Philippine Amusement and Gaming Corp.

Under the POGO landscape, offshore gaming is conducted via Internet using a network and software offered exclusively to offshore authorized players who have registered and established an online gaming account with the licensee.

Only foreigners based in another country are authorized to play while foreign nationals in the Philippines and Filipinos residing abroad are not allowed to take part in the online gaming activity, according to POGO rules.

Other property companies such as Megaworld Corp. are also benefiting from the growth of POGO in the country.

Pagcor has so far issued 50 POGO licenses.

David Leechiu, a known property consultant, said demand would continue to grow as POGO grows.

In 2016, online gaming accounted for 56,000 sqm of office space while online gaming already accounted for 125,000 sqm as of the end of August.

The demand is expected to pick up as Pagcor indicated it would issue more licenses.

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DoubleDragon beefs up tourism portfolio with 1,001-room hotel in Boracay

DOUBLEDRAGON Properties Corp. is ramping up the expansion of its hospitality segment as it plans to build a 1,001-room hotel in the tourism estate of Global-Estate Resorts, Inc. (GERI) in Boracay.

In a statement issued Thursday, the listed property developer said it will be developing Hotel101 Resort-Boracay, which it claims will be the country’s biggest hotel in terms of room count.

DoubleDragon’s subsidiary Hotel of Asia, Inc. is partnering with Newcoast South Beach, Inc. for the project, which is located in Boracay Newcoast.

“It will certainly boost DoubleDragon’s recurring revenues through the years and will also significantly help generate economic benefits to the people of Boracay as well as contribute to pump-prime further the world-class reputation of the island and the Philippines as a tourist destination,” DoubleDragon Chairman Edgar J. Sia II said in a statement.

The hotel will occupy two hectares on the beachfront cove of Boracay Newcoast, which in turn covers a total of 150 hectares. Among its amenities are a pool and outdoor deck, business center, meeting rooms and function hall, and retail, food and beverage offerings.

DoubleDragon said it will be employing eco-friendly initiatives with the construction and operation of the hotel to reduce and reuse energy, waste, and water. Some areas of the property will have solar panels and a rainwater harvesting system as well.

GERI, the leisure and tourism arm of Megaworld Corp., will also be developing in Boracay Newcoast commercial, retail, and residential condominiums surrounded by its own golf course.

“This new development by Hotel101 Resort-Boracay group will become a major provider of comfort and convenience for tourists visiting Boracay. Their eco-friendly hotel blends well with Boracay Newcoast’s sustainable development model,” Megaworld Senior Vice-President Kevin Andrew L. Tan  said in a statement.

Boracay will be Hotel101’s fourth location in the country, after Manila, Fort Bonifacio in Taguig City, and Davao City.

“We envision Hotel101 to become the largest and most recognized hotel chain in the Philippines, significantly contributing to the recurring income of DoubleDragon, and at the same time providing the market with an innovative, safe and secure investment platform,” Mr. Sia said.

DoubleDragon is targeting to have 5,000 hotel rooms in the country under its 2020 vision. It currently has around 800 rooms under the Hotel101 and Jinjiang Inn brands.

The company also looks to have a total of 1.2 million square meters of leasable space and 100 community malls under the CityMalls brand during this period.

DoubleDragon booked P812 million in attributable profit in the first nine months of 2017, up 8% year on year, as revenues grew 105% to P4.08 billion.

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DoubleDragon plans CentralHub in Iloilo

DOUBLEDRAGON Properties Corp. has acquired a 3.9-hectare property in Iloilo to be developed by its industrial unit, as it looks to develop manufacturing facilities across the country.

In a statement on Wednesday, the listed firm said Iloilo will be the site of the second complex under CentralHub Industrial Centers, Inc.

Located along Iloilo R3 road, CentralHub Industrial Centers will be constructing standardized multi-use warehouses suited for commissaries, cold storage, light manufacturing, and logistics distribution centers. The site is located three kilometers away from the Iloilo International Airport, and around 10 kilometers away from Iloilo City Proper.

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Once fully developed, the facility will offer 22,000 square meters (sq.m.) of leasable space. This will bring DoubleDragon’s industrial leasing portfolio to 54,000 sq.m., as the company is also developing CentralHub Tarlac with a total leasable space of 32,000 sq.m.

“We believe the industrial leasing segment presents significant growth opportunities for DoubleDragon as the current market supply is very traditional and fragmented,” DoubleDragon Chairman Edgar J. Sia II said in a statement.

By 2020, CentralHub is targeting to have 100,000 sq.m. of leasable space from eight industrial properties covering a total land area of 100 hectares. The company looks to scatter its footprint to two developments in North Luzon, two in South Luzon, two in Visayas, and two in Mindanao.

The company is banking on e-commerce businesses as well as tenants of its community malls segment to push up demand for industrial spaces in the future. DoubleDragon is also currently undertaking the expansion of CityMalls, where it expects to have 700,000 sq.m. of leasable space by 2020.

DoubleDragon’s entry into the industrial property sector forms part of its vision to become a leader in a space that has yet to be dominated by the country’s largest players in real estate.

“As a new player in an already mature real estate industry which has been dominated by large established players for decades, we are focused in segments within the real estate space where we still have an opportunity to organically dominate, such as industrial leasing, provincial community mall leasing and hospitality,” Mr. Sia said.

Aside from expanding its industrial and community malls businesses, DoubleDragon is also ramping up its office leasing and hospitality segments under its 2020 vision. By then, the firm looks to have 5,000 rooms from under Hotel 101 and Jinjiang Inn brands.

The completion of Jollibee Tower in Ortigas Center and DD Meridian Park will add another 300,000 sq.m. of office spaces under its portfolio, for a total leasable space of 1.2 million sq.m. under DoubleDragon.

The company targets to book earnings of P5.5 billion upon the completion of these projects in 2020.

DoubleDragon’s attributable profit for the first three quarters of 2017 rose 8.4% to P812 million, as revenues jumped 108% to P4.08 billion.

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DoubleDragon starts building 2nd CentralHub

DOUBLEDRAGON Properties Corp. on Tuesday said it has started construction for its second industrial leasing hub in Iloilo City.

The listed property developer’s unit, CentralHub Industrial Centers, Inc., broke ground for the 3.9-hectare property in Iloilo on Tuesday. The site will host modern, standardized, multi-use warehouses for commissaries, cold storage, light manufacturing, and logistics distribution centers.

CentralHub Iloilo is located along Iloilo R3 Road, which is three kilometers away from the Iloilo International Airport and 10 kilometers away from Iloilo City Proper. The facility will offer 22,000 square meters (sq.m.) of leasable space once fully developed.

This will be the second CentralHub complex under DoubleDragon’s portfolio.

The first industrial leasing project, CentralHub-Tarlac spanning 32,000 sq.m., is set to be turned over to tenants by July.

“We believe that the industrial leasing segment presents significant growth opportunities for DoubleDragon as the current market supply is very traditional and fragmented and with growth now flowing into second and third-tier cities demand for industrial space has risen considerably,” DoubleDragon Chairman Edgar J. Sia II said in a statement.

DoubleDragon has targeted to have eight CentralHub sites by 2020, with two each in North Luzon, South Luzon, Visayas, and Mindanao. These will give the company an initial 100,000 sq.m. of leasable space in the next two years.

The company is banking on industrial leasing as one of its four sources of income, with the other three being provincial retail leasing, office leasing, and hospitality. Potential clients for the industrial facilities include e-commerce businesses and tenants of its community malls.

DoubleDragon is currently building 100 CityMalls until 2020, set to cover 700,000 sq.m. of leasable space. For the office segment, the company has DD Meridian Park in Pasay City and Jollibee Tower in Ortigas Center, which together will cover 100,000 sq.m.

“Other than the e-commerce businesses that will soon require facilities such as CentralHub, there are also a lot of synergies within our ecosystem since both our affiliates and the tenants of our CityMalls are the natural users of warehouse facilities as they continue expand their business to capture the growing consumer base of the Philippines,” Mr. Sia said.

Under the hospitality segment, DoubleDragon seeks to have 5,000 hotel rooms under its brands Hotel101 and JinJiang Inn Philippines.

Once these projects are completed, DoubleDragon will have 1.2 million sq.m. of leasable spaces under its portfolio. The company is slated to generate a net income of P5.5 billion by 2020.

DoubleDragon’s net income more than tripled to P744.56 million in the first three months of 2018, following a 182% jump in revenues to P1.83 billion.

I just want to verify regarding the humor about Citymall-SM conflict? may balita na I pull-out na ang mga SM stores sa mga Citymall. It will be huge impact sa DD.
(08-01-2018, 08:44 PM)Govriel Wrote: I just want to verify regarding the humor about Citymall-SM conflict? may balita na I pull-out na ang mga SM stores sa mga Citymall. It will be huge impact sa DD. us some links bos
(08-02-2018, 10:16 AM)Ollie Wrote:
(08-01-2018, 08:44 PM)Govriel Wrote: I just want to verify regarding the rumor about Citymall-SM conflict? may balita na I pull-out na ang mga SM stores sa mga Citymall. It will be huge impact sa DD. us some links bos

wala akong mahanap n link, pero sa insider of SM ko narinig.
...mahihirapan tayong maniwala nyan pag hindi substantiated Smile

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