DOUBLEDRAGON Corporation is expected to exceed P100 billion in total equity for the first time this year. The company is positioned to become one of the few companies in the Philippines with total equity at 12 digit level.
DoubleDragon Corporation is also one of the few companies in the country with credit rating PRS Aaa (Triple A) from Philippine Rating Services Corporation, the highest rating tier by PhilRatings.
The companyās string of titled investment properties strategically planted in prime locations spread out in Luzon, Visayas, Mindanao, and overseas serves as its strong underlying solid foundation.
On top of its string of diversified hard assets portfolio in the Philippines, DoubleDragon happens to be one of the few companies in the country that was able to organically develop a novel and unique business model and brand in Hotel101 that is highly portable and exportable to multiple continents.
The upcoming Hotel101 Global listing in the US is set to further strengthen DoubleDragon’s balance sheet.
DoubleDragon Corporation recently reported that consolidated net income grew +23.25% year-on-year to P15.93 billion for the year ending December 31, 2023, with consolidated revenues at P24.74 billion for the same period.
Total assets of the company are up +15.59% year-on-year to P181.24 billion as of December 31, 2023. Total equity grew +15.88% year-on-year to P94.57 billion as of December 31, 2023. DoubleDragonās debt-to-equity ratio stood at a very healthy 0.64x as of December 31.
DoubleDragon in less than 10 years has completed over 1.3 million square meters of diversified asset portfolio consisting of a chain of provincial community malls in Luzon, Visayas and Mindanao, office buildings in Metro Manila, hotels in the Philippines and overseas, and warehouse complexes around the country.
It 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 in Sultan Kudarat that further stimulates the countryside local economy, but at the same time enables the positive economic growth to be felt by the real provincial countryside. The company is one of the very few that has commercial investment as far as Basilan, Sulu in the Bangsamoro Autonomous Region.
DoubleDragonās nationwide Philippine portfolio of titled hard assets footprint strategically located in Luzon, Visayas and Mindanao, is expected to fully mature by 2025.
DoubleDragon expects its Hotel101 subsidiary being an asset-light business model to become one of the major homegrown brand and business model export to other countries that would generate a significant US Dollar inflow to the Philippines.
Hotel101 is also expected to further elevate the globally renowned Filipino brand of hospitality to each of the country where Hotel101 eventually operates.
DoubleDragon Corporation’s principal shareholders are Injap Investments Inc. led by Mang Inasal founder Edgar āInjapā Sia II and Honeystar Holdings Corp. led by Jollibee founder Tony Tan Caktiong.
“DoubleDragon, despite being a relatively newer player in a highly competitive industry dominated by long established giants that came way many decades ahead, we are grateful for the grit and hard work of our team and support of all our stakeholders that enabled DoubleDragon to demonstrate that the business landscape of the Philippines is a playing field that allows entrepreneurs to thrive, inspiring more and more entrepreneurs to build more start-ups and push it forward to eventually become large entrenched players over time,ā said DoubleDragon chairman Injap Sia.
He added: āAs an entrepreneur myself who started in the province, I firmly believe that a country that produces a continuous flow of new players that are able to grow and not just a handful of old players is vital for a robust and healthy economy that will contribute towards a First World Philippines.”/PN
