MANILA -The property venture of business tycoons Edgar “Injap” Sia II and Tony Tan Caktiong has tapped upscale property broker H2 Christie’s International Real Estate as it seeks to generate about $129 million (P7 billion) in sales for Hotel101-Niseko.
Niseko, a famous skiing destination in Japan’s northern Hokkaido region, is the first international location of listed DoubleDragon Corp.’s Hotel101.
H2 Christie’s International Real Estate, which has one of the biggest luxury real estate portfolios in Northern Japan, was hired as sole principal sales and marketing agent. It may also tap subagents under it to market units that would come with the perpetual titled individual unit ownership in the sprawling 1.17 hectare free-hold titled land of Hotel101-Niseko.
READ: DoubleDragon targets over $137M in sales from Japan condotel
“The Hotel101-Niseko units are seen as a solid investment since the unit owners are able to directly and perpetually own a real estate hard asset through the full ownership of the unit through a condominium title,” DoubleDragon said in a stock exchange filing on Wednesday.
DoubleDragon is rapidly expanding its overseas hotel footprint via Singapore-registered Hotel101 Global Pte. Ltd.
After Niseko, its next two international locations will be Madrid in Spain and California in the United States.
READ: Injap Sia’s Hotel101 targets US, Spain for expansion
For its near-term expansion road map, Hotel101 will open in 25 countries by 2026.
These include the United Kingdom, United Arab Emirates, India, Thailand, Malaysia, Vietnam, Indonesia, Saudi Arabia, Singapore, Cambodia, Bangladesh, Mexico, South Korea, Australia, Canada, Switzerland, Turkey, Italy, Germany, France and China.