DoubleDragon's mega-project rides on Mainland Chinese demand


Posted at May 07 2018 04:28 PM | Updated as of May 07 2018 04:43 PM

MANILA - DoubleDragon inaugurated one of its biggest developments on Monday, with Chinese-run online gaming companies accounting for 60 percent of its occupants, a company official said.

Once fully operational, DoubleDragon Plaza will have 280,000 square meters of leasable space on 7 floors. The white building with patches of blue, yellow and green sits on a 4.8-hectare property just a few minutes drive from shopping malls, condominiums and billion-dollar casinos.

The property is close to being 100 percent fully leased, said DoubleDragon chief investment officer Hannah Yulo.

DoubleDragon welcomes strong demand for commercial space from the Chinese mainland, Yulo said, adding this is also felt in other developments in the capital.

The company is a partnership between Filipino-Chinese billionaires Edgar "Injap" Sia and Tony Tan Caktiong, founder of the country's largest fast food operator, Jollibee.

Rival developers DMCI, SM Prime Holdings, Rockwell Land and Federaland have all noted increases in demand for residential and commercial space from Mainland Chinese.

Chinese companies have employed Mandarin and Fookien-speaking real estate agents to entertain prospective clients, who are eyeing properties in central business districts or in the Manila Bay area, industry sources said.

-- Warren de Guzman, ABS-CBN News