DoubleDragon Corp. said its board has given the go signal for a retail bond issue that will raise up to P10 billion for various projects of the listed property developer. Local credit rating agency Philippine Rating Services Corp., has rated DoubleDragon’s retail bonds with an issue credit rating of PRS Aaa, reaffirming its robust creditworthiness.
DoubleDragon is poised to surpass P100 billion for the first time in 2024, solidifying its position as one of the very few companies in the Philippines. Its diversified hard asset portfolio, strategically distributed across Luzon, Visayas, Mindanao, and overseas, serves as a strong foundation for its continued growth.
Led by Filipino entrepreneurs Edgar “Injap” Sia II, founder of Mang Inasal, and Tony Tan Caktiong, founder of Jollibee, DoubleDragon continues to carve its path as a leading force in the Philippine business landscape, poised for further growth and success.
DoubleDragon has pioneered a groundbreaking asset-light concept with its highly unique business model in Hotel101 (HBnB), which is not only domestically successful but also poised for global expansion. The export potential of Hotel101 is anticipated to significantly contribute to the influx of US dollars into the Philippine economy, further bolstering DoubleDragon’s financial prowess.
The company reported consolidated net income growth of 23 percent year-on-year to P15.93 billion in 2023, on revenues of P24.74 billion for the period.
