MANILA, Philippines – DoubleDragon Properties Corp., owned by the founders of Jollibee and Mang Inasal, will be developing an office and commercial building complex along EDSA Extension in Pasay City through a partnership with Carto Meridian Development Corp. (CMDC).
DoubleDragon and CMDC have signed a memorandum of agreement to develop The Meridian Park, which is located in a prime lot at the corner of EDSA and Macapagal Avenue near the SM Mall of Asia complex.
The Meridian Park will cover 334,000 square meters of floor area and is envisioned to become a themed complex of buildings for business process outsourcing (BPO) firms, corporate offices, commercial complex, and serviced apartments.
The first phase of the project, the DoubleDragon Cyber Campus, is expected to begin construction in the last quarter of the year.
The Cyber Campus will house themed buildings for BPO offices in a 90,200-square meter floor area.
Aside from BPO offices, the building will also be leased out to commercial retail spaces at the ground floor.
About 12,000 jobs are expected to be created from the first phase of the project alone.
DoubleDragon said the whole development is expected to generate over P1.6 billion in annual rental revenues to the joint venture company, 70 percent of which is owned by DoubleDragon.
The full completion of the project is targeted by 2020.