The listing of the real estate investment trust will proceed as soon as global interest rates stabilize and cap rates fall to 5-6 percent, the developer said on Friday.
CentralHub, backed by a joint venture with Jollibee Foods Corp., is rapidly expanding its ₱24.8-billion industrial leasing portfolio, which now spans over 60 hectares.
Hotel101’s US listing update
DoubleDragon, through Hotel101, is also making final preparations for its US listing, said Sia, the company’s chair and CEO.
“We are excited to make happen Hotel101 Global listing, as it is set to be the first from the Philippines to list in Nasdaq, and our listing team and counsels in Manila, Singapore, Hong Kong, and New York are currently working on the process that we expect before the end of the year or as soon as possible,” Sia said.
“Our entire team is excited about the months ahead as DoubleDragon prepares to receive its largest-ever capital injection through a series of strategic capital initiatives,” he added.
9-month performance
DoubleDragon reported a consolidated net income of ₱2.53 billion for the first nine months of 2024, maintaining a healthy net debt-to-equity ratio of 0.72 times.
Total assets grew to ₱192.43 billion, with total equity rising to ₱94.90 billion, positioning the company to surpass ₱100 billion in equity for the first time.
The firm’s asset-light Hotel101 model, designed for global expansion, is expected to boost US Dollar inflows into the Philippine economy.
