HOTEL101-MADRID in Spain is now in full swing construction works as scheduled following the groundbreaking in March this year.
The hotel is being constructed by Ferrovial Construcción, one of the largest construction companies in Spain.
Hotel101-Madrid is scheduled to be completed by the fourth quarter of 2025.
It is expected to open just in time for the start of the Madrid F1 Grand Prix, which happens to be located right beside the property.
The 680-room Hotel101-Madrid project is set to become one of the top 5 largest hotels in Madrid. It is located on a 6,593-square meter prime commercial property recently purchased by Hotel101 located along Avenida Fuerzas Armadas, Valdebebas, Madrid which is surrounded by major landmark buildings.
The hotel is about three-minute walk to the Valdebebas Train Station, four-minute walk to IFEMA convention complex, fice-minute walk to Real Madrid Sports Complex, and around seven-minute to the new Madrid Barajas International Airport.
Overseas Hotel101 remarkably generated robust cash payments inflows from unit buyers, exceeding DoubleDragon’s expectations.
DoubleDragon has hit milestone of first ever in its history to have received cash payments in foreign currency of equivalent to over $10 million USD in form of foreign currency cash from many retail buyers collected in barely just a few months mainly in the second quarter of this year.
Given the trajectory of overseas projects, DoubleDragon expects to capture over $100 million USD (or about P5.8 billion) of contracted unit sales in the next 12 months./PN
