DoubleDragon Corp., a listed property developer, has shelf registered P30 billion worth of retail bonds that would be issued over the next three years to fund future expansion.
This strategic move follows the company’s recent success in the Peso Retail Bonds market, where it raised P10 billion on strong investor interest. The return of DoubleDragon to this financing avenue underscores its strong market position and investor confidence.
“Today marks a significant milestone for DoubleDragon as we continue to build on our robust growth trajectory,” said Edgar “Injap” Sia II, co-founder and chairman of DoubleDragon. “The overwhelming response to our previous bond issuance reflects the trust our investors place in our vision and strategy,” he added.
The newly branded “Dragon Year-End Bonds” will take advantage of favorable interest rates, with anticipated yields of 8 percent for the 2024 tranche, 7 percent for 2025, and 6 percent for 2026.
The fund-raising exercise not only aims to raise additional capital but also reinforces DoubleDragon’s strategic vision to enhance its liquidity and financial strength. The company is entering a phase of consistent revenue generation from its expansive portfolio, which boasts over 1.3 million square meters of completed Gross Floor Area.
“Our focus has always been on sustainable growth, and these bonds will help us further capitalize on our achievements,” stated Tony Tan Caktiong, co-chairman and founder of Jollibee. “As we complete our projects, we are excited about the revenue potential that will start flowing in, ensuring our long-term financial health,” he continued.
Financially, DoubleDragon is on track to surpass P100 billion in total equity for the first time in 2024, a milestone that underscores its growth trajectory. With a healthy debt-to-equity ratio of 0.69x, the company is well-positioned to leverage its innovative, asset-light business model, particularly through its Hotel101 concept, which is set for global expansion. This model has already proven to be a game-changer, combining hotel and home-sharing elements to meet diverse consumer needs.
“Our novel approach with Hotel101 not only enhances our asset portfolio but also positions us for future growth in international markets,” Sia noted. “We see significant potential for our brand abroad, contributing to the Philippine economy through increased US dollar inflows,” he added.
DoubleDragon’s diversified portfolio—comprising prime real estate across the Philippines and overseas—enhances its stability and growth potential. The upcoming bond offering represents a unique investment opportunity for retail investors seeking competitive returns from a Triple A-rated firm. As one of the few companies in the Philippines to reach such a scale, DoubleDragon is set to attract substantial interest from both retail and institutional investors.
As the company prepares for its latest bond issuance, it remains focused on achieving its long-term goals. “Our vision is to solidify DoubleDragon’s status as a key player in the real estate market, not just in the Philippines but on a global scale,” Tan Caktiong said.
