MANILA – DoubleDragon Properties Corp on Monday held the top off ceremony for its Jollibee Tower in Ortigas after completing the construction of all 41 floors.
The tower, which has a total leasable area of 59,365 square meters, is expected to contribute P631.8 million in annual recurring income for DoubleDragron, the company said in a disclosure to the stock exchange.
“We see building structures for leasing business like fruit-bearing trees, where the buildings are like the tree, and the rental income are like the fruits that keeps coming for many decades. And while they produce the fruits year on year, the property like the bark of the tree also becomes more and more valuable,” DoubleDragon chairman Edgar “Injap” Sia II said.
Jollibee Foods Corp will be building’s anchor tenant, the developer said. DoubleDragon is a joint venture between Sia and Jollibee founder Tony Tan Caktiong. (ABS-CBN News)
