DoubleDragon Properties Corp. on Monday said it has completed the third phase of its industrial park with an additional 10,646 square meters of leasable space in Tarlac.
The company said it is set to surpass its milestone 1.2 million square meters of completed gross floor area (GFA) portfolio. The 1.2 million square meters GFA is composed of a series of hard assets and were acquired and constructed mainly in the last seven years.
DoubleDragon’s real estate portfolio is seen to become its first core pillar as it is currently in the process of transforming into a holding company in select relevant industries with high growth potential, it said.
“We are grateful for the efforts and support of all the stakeholders of DoubleDragon for this milestone, each and every square meter with land acquired and building constructed mainly in the last seven years are solid bricks that now serves as the core foundation of the hard value of DoubleDragon,” company chairman Edgar Sia II.
“Given the progress that the DoubleDragon team has made despite all the challenges that came its way being a new player in a highly competitive, prohibitive and mature industry, we expect to work towards reaching DoubleDragon’s principal strategic goal of P120 billion in total equity by 2030.”
The company’s total equity stood at P59.23 billion as of end-March.
“Our whole team will continue to be relentless in our pursuit to make all the business units and brands under Merry Mart and Double Dragon a well-loved household brand serving well all its stakeholders and for both to become major contributor to our economy in the years to come,” Sia said.
DoubleDragon is one of the few companies in the Philippines that owns a portfolio of prime and appreciating hard assets across the country exceeding 1 million square meters in GFA.