Listed property developer DoubleDragon Corp. posted a modest rise in earnings for the first nine months of 2025 even as revenues surged, driven by the continued expansion of its recurring-income portfolio and the global rollout of its Hotel101 brand.
The company reported a consolidated net income of P2.55 billion, up 0.70 percent year on year. The slight uptick came despite an aggressive expansion phase, supported by strong growth in consolidated revenues, which jumped 62.84 percent to P10.46 billion on the back of higher contributions from its provincial malls, office assets, and industrial warehouses.
DoubleDragon said its balance sheet remains solid, with a Net Debt-to-Equity ratio of 0.84x—one of the lowest among publicly listed Philippine firms. The group has now completed 1.5 million square meters of gross floor area across Luzon, Visayas, Mindanao, and overseas markets, forming the backbone of its recurring-revenue engine.
A major growth driver is CentralHub, the company’s industrial warehouse platform with joint-venture partner Jollibee Foods Corp. DoubleDragon is ramping up development toward a P24.8-billion warehouse leasing portfolio and aims to launch the Philippines’ first industrial REIT.
The company also highlighted its Triple A credit rating (PRS Aaa) from PhilRatings, citing its diverse mix of titled investment properties as a stable foundation.
Hotel101 Global, DoubleDragon’s asset-light hospitality arm, continues to fuel international growth after becoming the first Filipino-owned company to list on the US Nasdaq on July 1, 2025. DoubleDragon said Hotel101’s long-term vision—building one million standardized rooms in over 100 countries—positions it as a major future source of US dollar inflows to the Philippine economy.
With its nationwide real estate portfolio expected to fully mature in 2025, DoubleDragon said it is poised for stronger recurring earnings in the years ahead.
