DoubleDragon Corp. Reports Tripled Core Net Income on Global Expansion DoubleDragon Corp. (DD), the Philippine real‑estate and hospitality conglomerate headed by Edgar “Injap” Sia II and Tony Tan Caktiong, announced that its core net income for the first nine months of the year rose 253.59 percent year‑on‑year to PHP 3.91 billion. The increase was driven largely by the company’s expanding international operations, particularly its Hotel101 hospitality brand. Consolidated revenues for the period climbed 98.76 percent to PHP 20.78 billion, while core revenues surged 143.65 percent to the same figure. No property revaluation gains were recorded during the nine‑month period. Net income for the third quarter alone jumped more than sixfold to PHP 1.13 billion from PHP 183.67 million a year earlier. Foreign‑currency revenues accounted for 59.03 percent of the company’s core revenues, marking the first time that overseas earnings have comprised the majority of its core income. Hotel101 generates revenue from both hotel unit sales and ongoing hotel operations, and the company plans to develop one million standardized rooms across more than 100 countries. “DD has generated a significant increase in its core revenues and core income,” the company said in a regulatory disclosure. It expects further growth from Hotel101 unit sales in the Philippines and abroad, as well as from its leasing portfolio, new malls, warehouses, office tenants and MerryMart supermarkets. At the end of September, DoubleDragon’s total assets reached PHP 256.82 billion, up PHP 31.56 billion from the end of 2025, while total equity increased by PHP 5.41 billion to PHP 107.02 billion. The company said it aims to achieve a cumulative core revenue target of PHP 500 billion ahead of its 2035 deadline.
Article source: The Daily Tribune | Image credit: The Daily Tribune