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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.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1
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.


source: http://www.philstar.com/business/2017/11...ubledragon
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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.


source: http://bworldonline.com/doubledragon-bet...de-growth/
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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.


source: beta.philstar.com/business/2018/01/12/1776834/pogo-drives-demand-dd-meridian-rental
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