DoubleDragon Properties, owned by bilyonaryo Injap Sia, reported a 14.5 percent growth in net earnings to P12.92 billion.
However, revenue dropped by 11 percent to P14.13 billion.
Sia attributed the company’s success to its strategic focus on four pillars of growth: office leasing, provincial retail leasing, industrial leasing, and hospitality.
He said that while the first three pillars would continue to grow in the Philippines, the Hotel101 business under the hospitality pillar would prove to be a valuable asset for the group, as it has the potential to be exported globally.
According to Sia, DoubleDragon is one of the few companies in the Philippines that has developed and proto-typed a unique hotel business model, making it portable to over 100 countries worldwide.
The company’s subsidiary, Hotel101 Global Pte Ltd, aims to reach a 500,000-room portfolio by 2040, and the homegrown Filipino Hotel101 brand aims to become one of the top five global hotel groups operating in over 101 countries.
DoubleDragon’s Chief investment officer Hannah Yulo-Luccini explained that the company has been building up its portfolio of prime assets for several years, making it one of the top 10 largest property firms in the country, with total assets exceeding $2.8 billion or P156.8 billion.
With its solid growth and expansion strategies, DoubleDragon is poised to further cement its position in the real estate industry and create value for its shareholders in the long term.