DoubleDragon secures license to sell Libis project

DoubleDragon Corp’s (“DoubleDragon”) hotel subsidiary, Hotel 101, received on July 5, 2023 its DHSUD LTS No. 0000073 covering Hotel 101-Libis Bridgetowne Project.

The company to date has fully secured all the necessary building permits and has commenced construction site activities for Hotel101-Libis Bridgetowne in Quezon City, Metro Manila slated for completion in 2026.

The 702 rooms Hotel101-Libis Bridgetowne is set to be the largest hotel in Quezon City with its pioneering standardized signature 21sqm HappyRooms.

The hotel facilities will include a gym and an outdoor infinity pool, all-day dining, business center and function rooms.

Hotel101-Libis Bridgetowne sits on a 2,547 square meter prime titled commercial lot which forms part of Bridgetowne District. The property is also across the upcoming RLC’s Opus Mall shopping center within the Bridgetowne District.

Hotel101-Libis Bridgetowne Project is expected to generate ₱4.9 Billion in unit sales revenue. The Hotel101- Libis Bridgetowne units are seen as a solid investment since the unit owners are able to directly and perpetually own a real estate hard asset through the full ownership of the unit through a condominium title.

Last June 7, 2023 the Company reported 548 room Hotel101–Cebu Mactan Airport project fully sold out in just 21 months from the start of pre-selling; over a year ahead of target completion date.

Hotel101 pipeline of inventory from secured prime titled land sites in Cebu, Libis, Boracay, Palawan and Bohol expected to generate ₱18.14 Billion in revenues, excluding the dollar revenues to be generated from the Hotel101 overseas projects.

The Singapore registered Hotel101 Global Pte. Ltd. (“Hotel101 Global”), is the worldwide hotel expansion subsidiary of Philippine parent company DoubleDragon Corporation.

DoubleDragon targets to list its subsidiary Hotel101 Global Pte Ltd at NASDAQ (US Stock Exchange) given that eventually Hotel101 Global is expected to derive over 95% of its revenues outside the Philippines.

The first three overseas Hotel101 projects will be in Niseko Hokkaido Japan, Madrid Spain, California USA. These first three overseas sites will serve as bridge projects to jumpstart the transition of Hotel101 to transcend beyond these first three countries and become a global brand with a truly unique business concept that can be planted in over 100 countries.

Target near term expansion roadmap for Hotel101 Global is to be in these first 25 countries by 2026 namely: Philippines, Japan, Spain, USA, United Kingdom, UAE, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France and China.

DoubleDragon Corporation is one of a handful of companies in the Philippines that has accumulated a completed a recurring income portfolio of 1.2 million square meters in diversified hard assets in office leasing with its Jollibee Tower, DoubleDragon Plaza at DD Meridian Park complex, its string of CityMall community centers, its string of CentralHub warehouse complexes, and its string of Hotel101 projects in the Philippines and overseas.

As of March 31, 2023, DoubleDragon Corporation’s Total Equity stands at ₱81.96 Billion and Total Cash Position stands at ₱9.03 Billion. DoubleDragon has recently been upgraded to Highest PhilRatings PRS Triple A Credit Rating.