ILOILO City – The Board of Directors of Double Dragon Properties Corporation (DoubleDragon) has approved the amendment of its Articles of Incorporation to amend its primary purpose to transform it into an investment holding company. The proposed amendment will be subject to the necessary regulatory and other approvals. The Board also approved the change of the corporate name of the company to DoubleDragon Corporation.
“Barely just few years ago, our family partnered with the Sia family as we saw exciting prospects in the Philippine real estate industry. Fast forward today, DoubleDragon has grown from zero leasable space to 1.024 million square meters of completed GFA portfolio. In the hindsight, that decision has proven right as DoubleDragon from a small startup company has transformed into a company with now over P122.5 billion in assets,” said DoubleDragon co-chairman Tony Tan Caktiong.
He added that the company is now in an excellent position where it can capitalize on its strong balance sheet to add worthwhile investments outside of the property sector that would have massive growth potential. He is also excited about what the future holds for the new DoubleDragon property.
“DoubleDragon is now ready to begin its new journey as it aspires to become one of the most active, durable and responsible Filipino conglomerates,” said DoubleDragon chairman Edgar Sia II.
“As our world pivots to a new economy, we view this as the right time for DoubleDragon to prepare itself for opportunities that will present itself along the way as we navigate out this global pandemic. We anticipate that after a major global disruption like we are experiencing right now, once the dust settles and things start to heal, it will surely cause some ventures that used to be relevant and become irrelevant, and transform some that used to be irrelevant to become relevant,” added Sia.
Furthermore, he hopes that DoubleDragon will become a major contributor and be at the forefront in the rebuilding of the new economy post this unprecedented global pandemic./PN
