Edgar “Injap” Sia II, chairman of DoubleDragon Corp., acquired a total of 5.12 million common shares of the company over two separate transactions earlier this month, signaling continued confidence in the property developer’s long-term prospects.
On October 3, Sia purchased 1 million shares at an average price of P9.26014 per share, amounting to P9.26 million.A week later, on October 10, he acquired another 4.12 million shares at an average price of P9.11 a share, for a total of P37.6 million.
Altogether, the purchases were worth P46.8 million, and represent about 0.2 percent of DoubleDragon’s outstanding shares.
Sia, through his privately-held Injap Investments Inc., which already holds approximately 35.2 percent of DoubleDragon.
The move reinforces Sia’s continued stake in the firm he founded in 2009 under its original name, Injap Land Corp., before evolving into one of the country’s most diversified property players. DoubleDragon’s portfolio spans commercial, residential, industrial, and hospitality developments through subsidiaries such as CityMall Commercial Centers Inc., DD HappyHomes, CentralHub Industrial Centers, Hotel101 Global Holdings, and DDMP REIT Inc.
Analysts often view insider buying as a vote of confidence, and Sia’s latest acquisition may offer reassurance to investors amid a volatile property market and shifting post-pandemic recovery trends.
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