DoubleDragon Income Jumps 31% to P64.4 B

DoubleDragon Properties Corp. (the “Company” or “DoubleDragon”) reported Core Net Income figures in the first nine months of 2021 grew +250.86% to Php 4.18 Billion vs the same period last year, with total Consolidated Revenues of Php 4.41 Billion.

Photo Insert: DoubleDragon Plaza at DD-Meridian Park is an extreme 4.75-hectare prime commercial block in the Bay Area.

Hotel Revenues likewise increased +14.49% to P420.70 million in the first nine months of 2021 vs. the same period last year while real estate sales increased +124.29% to P718.64 million in the first nine months vs. the same period last year.

Total Assets of the Company rose 6.82% in the first nine months of 2021 to Php 129.15 Billion compared to Php 120.91 Billion as of the end of 2020.

Total Equity jumped significantly by 31.35% to Php 64.44 Billion in the first nine months of 2021 as compared to Php 49.06 Billion as of the end of last year as a result of the DDMP REIT listing and new equity infusion of the Jollibee Group into DoubleDragon’s industrial leasing subsidiary CentralHub.

DoubleDragon further improves the net Debt-to-Equity ratio of 0.55x as of September 30, 2021.

The Company’s unutilized Debt Capacity now stands at Php 107.53 Billion. CityMall community centers have played a vital role in the communities it serves as it provides the basic essentials. Even during the lockdowns, CityMalls remained open as most of its tenants are focused on the basic needs category.

The CityMall community centers in various provincial areas in Luzon, Visayas and Mindanao have been hosting vaccination activities to help keep the community safer. DoubleDragon's 6-storey commercial building,

Dragon8 Shopping Center at the heart of Divisoria Manila has seen a significant increase in foot traffic after Metro Manila was downgraded to alert level 2.

The foot traffic in Dragon8 Shopping Center is expected to further increase several folds once the new Malolos-Tutuban North-South Commuter Railway train station is completed and expected to bring in over 300,000 daily commuters.

This new train station terminal is located right across Dragon8 Shopping Center in Divisoria.

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