DOUBLEDRAGON Properties Corp. on Monday said it was able to complete the third phase of its CentralHub-Tarlac development, which adds 10,646 square meters (sq.m.) of leasable space to its portfolio.
“We are grateful for the efforts and support of all the stakeholders of DoubleDragon for this milestone, each and every square meter with land acquired and building constructed mainly in the last seven years are solid bricks that now [serve] as the core foundation of the hard value of DoubleDragon,” DoubleDragon Chairman and Chief Executive Officer Edgar “Injap” J. Sia II said in a statement.
The company said it is on track to reach more than 1.2 million sq.m. by the end 2021, a year earlier than it had planned. CentralHub is its brand of industrial warehousing hubs.
As of March 31 this year, DoubleDragon’s total equity stands at P59.23 billion. It aims to have a total equity of P120 billion by 2030.
The company said its real estate portfolio is its core pillar for transitioning into a holding company in “relevant industries with high growth potential.”
DoubleDragon calls 2021 its “milestone year” as it now boasts a portfolio of “prime and appreciating hard assets” across the Philippines, spanning over a million sq.m. of leasable gross floor area.
“Our whole team will continue to be relentless in our pursuit to make all the business units and brands under MerryMart and DoubleDragon a well-loved household brand serving well all its stakeholders and for both to become major [contributors] to our economy in the years to come,” said Mr. Sia, who is also chairman and chief executive of listed MerryMart Consumer Corp.
Shares of DoubleDragon at the local bourse closed unchanged on Monday for P10.30 each. — Keren Concepcion G. Valmonte
