DoubleDragon breaks into revenue-magnet office property business

DoubleDragon Plaza

Property developer DoubleDragon Properties Corp. has debuted in the office property business with the inauguration of the four-tower
DoubleDragon Plaza, offering 130,000 square meters of leasable space at the Bay Area.

At an estimated monthly rental of P800 per square meter, the new office hub—which marks the first phase of flagship DD Meridian complex—can translate to over P1 billion in annual recurring revenues for DoubleDragon. Part of the complex is now being used as the company’s head office.

“Two more office buildings are set for completion later this year while another Grade A (office complex) and Ascott Meridian Park Manila will be completed in two years,” DoubleDragon cofounder and cochair Edgar Sia II said during the opening ceremonies.

Upon full completion by 2020, the DD Meridian complex—which sits on a strategic 4.8-hectare property at the corner of Edsa and Diosdado Macapagal Avenue—will have 280,000 square meters of leasable space. This will be big enough to host 50,000 workers.

The first phase of development can already accommodate 20,000 office workers. A large portion is also now occupied by Philippine Amusement and Gaming Corp.-accredited offshore gaming operators.

Islas Pilipinas

DoubleDragon Plaza has more than 2,200 parking slots across three parking floors.

At the podium floor that connects the four new towers, about 1.2 hectares of retail space have been dedicated to established food concepts, basic services, a supermarket and business finance.

The retail area also features Islas Pilipinas, an indoor heritage complex meant to be a “celebration of Filipino cuisine, culture and architecture.” Islas Pilipinas showcases Filipino handicrafts and products, giving tourists “a taste of what the Philippines has to offer.” —DORIS DUMLAO-ABADILLA

DoubleDragon co-chair Tony Tancaktiong, Finance Secretary Carlos Dominguez, DoubleDragon co-chair Edgar Sia II, president Ferdinand Sia