DoubleDragon Corp., one of the Philippines’ leading real estate developers, has completed the amendment of its offshore subsidiary’s core activities in Singapore, bringing it one step closer to expanding its Hotel 101 brand internationally.
DoubleDragon aims to buy its first site for development outside of the Philippines in the second quarter of 2022, and to open in the second half of the year.
This comes as the company announced that its subsidiary Hotel 101 Worldwide Private Limited has completed the change of its primary and secondary operations with Singapore’s Regulatory Authority, allowing it to hold acquisition, investment, and development of real estate properties and enterprises, as per reports from GMA News.
The adjustments also enable the company to perform real estate sales, marketing, operations, and project management outside of the Philippines.
According to Chairman Edgar “Injap” Sia II, the firm aspires to build a domestic worldwide hotel chain akin to Holiday Inn, Novotel, Jinjiang Inn, Shangri-La, Dusit, Nikko, and Raffles in the United States and Europe.
“We have also observed that in other countries, many have a strong mindset of gearing their business for export. Pursuing business ventures, brands, and concepts that are geared to be exported to the 195 countries globally is truly admirable,” he said in a regulatory filing.
The idea patent for DoubleDragon’s pioneering condotel concept has already been submitted, and the company stated it has already identified places where its Hotel 101 is expected to be patronized by local and foreign travelers.
The Hotel 101 brand is a hybrid condotel motel with all units or “Happy Rooms” being similar, allowing unit owners an equal amount of cash produced through pre-sale and hotel operations.
Meet Double Dragon Properties Corp. at the 8th Philippine Property and Investment Exhibition (PPIE) on 5-6 November 2022 at Crowne Plaza Hotel in Sheikh Zayed Dubai. Double Dragon Properties Corp. is a silver sponsor of PPIE, the biggest, longest-running and most trusted Philippine business and investment forum in the Middle East, now on its eighth edition.
The past seven PPIE editions made history in the UAE and the Gulf region by bringing in over 24,500 quality visitors.
