DoubleDragon earnings sizzle in first half

MANILA, Philippines — DoubleDragon Corp., the property developer chaired by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, saw earnings surge in the first half as revenues ballooned by more than half during the period.

Net Income of the company reached P2.37 billion from January to June, 44 percent higher year-on-year.

Consolidated revenues for the period soared by 58.3 percent to P6.95 billion.

DoubleDragon said it has reached 1.5 million gross floor area of completed recurring revenue asset portfolio from its string of hard assets spread out in prime locations in Luzon, Visayas and Mindanao.

The company also holds assets overseas through its subsidiary Hotel101 Global.

DoubleDragon is likewise actively building out CentralHub’s industrial warehouse portfolio towards its goal of establishing a P24.8-billion warehouse leasing portfolio and list the first industrial real estate investment trust in the Philippines.

CentralHub is a joint-venture company of DoubleDragon and Jollibee Foods Corp.

Further, DoubleDragon continues to boost its mall portfolio with plans to open CityMall in Guiwan, Zamboanga City on Dec. 15.

The upcoming mall is located right beside the Guiwan Zamboanga public market.

DoubleDragon’s portfolio of 53 malls nationwide cements its position as the third largest mall developer in the Philippines.

The company is one of the few companies that operates its modern community malls in the countryside, as far as Cotabato City, Koronadal City, Dipolog City in Zamboanga Del Norte and Isulan Sultan Kudarat.