DoubleDragon Corp., a listed property developer, said its gross floor area reached 1.5 million square meters with the completion of its fully pre-leased 5-hectare CentralHub warehouse complex in Cebu.
The Cebu project forms part of CentralHub, a joint venture between DoubleDragon and Jollibee Foods Corp., which aims to build a P24.8 billion industrial leasing portfolio and list the first industrial real estate investment trust (REIT) in the Philippines.
CentralHub’s current portfolio includes Jollibee’s largest commissary and distribution center in Laguna. With the Cebu completion, DoubleDragon strengthens its footprint across Luzon, Visayas, and Mindanao.
As of March 31, DoubleDragon posted total equity of P102.1 billion, maintaining a healthy net debt-to-equity ratio of 0.76 times—one of the lowest among Philippine-listed firms.
Its balance sheet was recently boosted by the U.S. NASDAQ listing of subsidiary Hotel101 Global, the first Filipino-owned firm listed on the exchange. Hotel101 Global is targeting 1 million rooms across 100 countries, with its first overseas hotel in Madrid nearing completion.
DoubleDragon’s portfolio includes provincial malls, offices, hotels, and industrial complexes, along with overseas assets. The company also holds a PRS Aaa credit rating, the highest from PhilRatings.
With this latest development, DoubleDragon further cements its position as a major property player with an innovative, exportable business model and a strategic network of titled properties across the Philippines and abroad.
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