DOUBLEDRAGON’S subsidiary Hotel101 Global has received all the pertinent executed land purchase documents and has made the full complete payment for the purchase of the 6,593 square meters of prime commercial land in Madrid, Spain on Oct. 31.
Following completion of the land purchase, Hotel101 Global has taken full possession of the prime land in Avenida Fuerzas Armadas, Valdebebas in Madrid which is surrounded by major landmark buildings. It is also about three-minute walk to the Valdebebas Train Station, four-minute walk to IFEMA convention complex, five-minute walk to Real Madrid Sports Complex, and around seven-minute walk to the new Madrid Barajas International Airport.
Hotel101-Madrid is expected to be completed in the fourth quarter of 2025.
Robust condotel sales revenue of about €143.3 million euros (P8.8 billion) is expected to be generated from the Hotel101- Madrid project.
The Golden Visa processing and advisory fee that costs about 6,000 euros will be free of charge for those who will purchase three Hotel101 units in Madrid from the start of the unit pre-selling until Dec. 31, 2023 or until the units are fully sold out, whichever comes first./PN
