Insider Spotlight
In a statement on Monday, June 1, 2026, the property developer controlled by billionaires Edgar “Injap” Sia II and Tony Tancaktiong reported total revenues of P27.91 billion for full-year 2025, up 56.3 percent from P17.86 billion a year earlier. The P10.05 billion increase was driven primarily by fresh revenues from international operations, according to the company.
The significance
The record revenue performance comes as DoubleDragon begins moving away from earnings supported by fair value gains and toward a business model anchored on recurring revenues from leasing and hospitality assets. Management said core revenues are now accounting for a growing share of total revenues as most of its leasing portfolio has already been completed and stabilized.
The company expects the transition to be largely complete by 2028, when core operating revenues are projected to dominate its revenue mix.
Balance sheet
DoubleDragon ended 2025 with total assets of P225.3 billion. Its debt-to-equity ratio remained below 1x, well under its 2.33x debt ceiling, providing room to support future expansion plans.
The company did not disclose net income, operating income, margins or cash flow figures in the announcement.
What’s next
Management expects 2026 to further strengthen core revenues and core income after absorbing one-time expenses in 2025 related to its US Nasdaq initiatives and employee stock option costs associated with Hotel101 Global’s expansion.
DoubleDragon plans to add 2,229 hotel rooms this year across Spain, Davao, Cebu and Japan, which it expects will contribute to higher recurring revenues from its hospitality portfolio.
Bottom line
Record FY2025 revenues provide an early indication that DoubleDragon’s strategy of expanding overseas and growing recurring income businesses is gaining traction as it pursues its long-term goal of reaching P500 billion in annual revenues by 2035. —Daxim L. Lucas | Ed: Corrie S. Narisma
