Property

DoubleDragon eyes P60B from REIT listing

DoubleDragon eyes P60B from REIT listing

DoubleDragon Properties Corp. of bilyonaryo Injap Sia expects to mop up a massive P59.4 billion via a real estate investment trust (REIT).

DoubleDragon Properties Corp. of bilyonaryo Injap Sia expects to mop up a massive P59.4 billion via a real estate investment trust (REIT).

DoubleDragon to lease out 50 Citymall rooftops for common towers

In a stock exchange filing, DoubleDragon said the amount would come from the company’s planned 1.2 million square meters of leasable space.

DoubleDragon posts stellar growth, 2018 profit zooms to P7.4B

DoubleDragon is just for securities regulators to release the rules on REITs before it sets its listing timetable.

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“The company confirms that it is preparing for an eventual REIT listing of its mature assets and is in preliminary discussions with foreign and local underwriters for the said offering,” DoubleDragon said.

DoubleDragon sets up overseas units to spur sales

DoubleDragon is eyeing to raise an initial P5 billion should it list its REIT this year. It expects to raise P15 billion if the REIT listing happens early 2020 as more of the company’s leasing assets ripen quarter on quarter.

DoubleDragon eyes P632M yearly recurring earnings from Jollibee Tower

Meanwhile, DoubleDragon remains focused on hitting its goal of achieving a total leasable portfolio of 1.2 million sqm by 2020 comprised of 700,000 sqm from community malls user the CityMalls brand; 300,000 sqm from its Metro Manila office projects; 100,000 sqm from the planned 5,000 hotels rooms of Hotel101 and Jinjiang Inn Philippines; and another 100,000 sqm of industrial space from various CentralHub sites across Luzon, Visayas and Mindanao.

DoubleDragon said the 1.2 million sqm of leasable space would ranslate to an estimated asset value of P180 billion at a 6% capitalization rate.

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