DoubleDragon Properties Corp. and Robinsons Land Corp. have agreed to jointly develop a one-hectare property along E. Rodriguez Jr. Avenue in Libis, Quezon City into a mixed-use project.
Robinsons Land and DoubleDragon agreed under the agreement to split the gross floor area of the project evenly.
The one-hectare property project include the construction of Robinsons DoubleDragon Square with office and retail components.
The project will also include a Hotel 101, which will be solely developed by DoubleDragon’s Hotel of Asia Inc.
The property will form part of the integrated development of Bridgetowne, a township project of RLC that features residential condominiums, office buildings, shopping centers and a 5-star hotel.
“We are glad to have this joint venture with Robinsons Land as we see the great potential of Bridgetowne to become one of the most relevant business parks in Metro Manila. We believe this partnership between DoubleDragon and Robinsons Land will bring about longterm fruitful gains to both companies,” said DoubleDragon chairman Edgar Sia II.
“Being close to achieving our 2020 vision, we are now making preparations for the next stage of DoubleDragon’s growth,” Sia added.
The transaction is subject to the review of the Philippine Competition Commission and other regulatory approvals.
DoubleDragon plans to complete a leasable portfolio of 1.2 million square meters by 2020, comprising of 700,000 sq. m. from 100 CityMalls, 300,000 sq. m. from Metro Manila office projects, 100,000 sq. m. from the 5,000 hotel rooms of Hotel 101 and Jinjiang Inn Philippines, and another 100,000 sq. m .of industrial space from various CentralHub sites across Luzon, Visayas and Mindanao.
