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Manila Bulletin devider Business devider The Stock Market devider DoubleDragon sets new 10-year goals

DoubleDragon sets new 10-year goals

Published Dec 13, 2024 08:12 am

DoubleDragon Corporation (DD), the property development venture of tycoons Edgar Sia II and Tony Tan Caktiong, has set new 10-year goals after expressing confidence in hitting initial targets for 2025.

During the firm’s annual stockholders’ meeting, DD Chairman Sia said their goal was for the firm’s Philippine portfolio to fully mature and reach its optimal revenue generation level by 2025 and for its offshore portfolio to gain significant market grip overseas by next year.

The firm’s portfolio includes CityMall commercial centers, CentralHub warehouse complexes, some office buildings, and Hotel101 branches. 

“We have one more year from today to fully and completely accomplish that, and given the support of our whole DD team, our DD board and all the stakeholders, I can confidently say that yes we can achieve those two goals on time as set in 2025,” he said. 

Once the firm has fully achieved these goals in 2025, Sia said they have set five new significant goals that they will work on towards year 2035.

First is that DD to exceed P500 billion in global consolidated annual revenues and exceed P50 billion in net income level by 2035 while completing its footprint in all 82 provinces in the Philippines in the next 10 years after 2025.

Sia said that, by 2025, they also aim to have Hotel101 Global plant its footprint in 100 countries worldwide, for DD to become a totally debt-free company, and for the company to generate annual cash dividends exceeding P12 billion annually.

He added that the P12 billion dividends will be derived from revenues from various foreign currencies flowing back to DD, “making DD one of the major multi-foreign currency recurring inflow generator to the Philippine economy.”

“Rest assured myself and our whole DD team will put these five priority goals for 2035 to heart. Your whole DD team will live and breathe these goals as we go forward towards 2035," said Sia.

“Your whole DD team will continue to strategically strengthen its base in the Philippines, and continue to strategically position globally,” he added.

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DoubleDragon Corporation Tony Tan Caktiong Edgar Sia II
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