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Manila Bulletin devider Business devider The Stock Market devider DoubleDragon's profit soars 44% in H1 fueled by strong real estate sales

DoubleDragon's profit soars 44% in H1 fueled by strong real estate sales

Published Aug 15, 2025 01:28 pm
DoubleDragon Corp., the property development venture of tycoons Tony Tan Caktiong and Edgar Sia II, registered a 43.72 percent jump in consolidated net income to ₱2.37 billion for the first six months of 2025 from ₱1.6 billion on the same period last year.
In a disclosure to the Philippine Stock Exchange, the firm said its total consolidated revenues surged by 58.29 percent to ₱6.95 billion from ₱4.39 billion, mainly from stronger real estate sales and the increase in property valuation.
Rental revenues dipped 4.8 percent to ₱1.86 billion during the first six months of 2025 from ₱1.96 billion during the same period last year, “due to transition between expired leases which will be replaced by incoming tenants.”
Real estate sales soared 93.1 percent to ₱1.1 billion from ₱571.3 million, mainly from additional sales from Hotel101’s international and domestic projects.
Hotel revenues of ₱433.0 million also contributed 6.2 percent of the consolidated revenues for the first six months of 2025, an increase of 6.5 percent from ₱406.7 million posted in the same period in 2024, due to increase in the occupancy rate of hotel properties.
DoubleDragon booked unrealized gains from changes in fair values of investment property amounting to ₱1.9 billion for the six months ended June 30, 2025, due to completion of projects during the period.
The Company’s interest income for the first six months of 2025 increased by 264.6 percent to ₱107.1 million from ₱29.4 million in 2024, mainly from the increase in interest income from time deposits.
Furthermore, there was a 6.4 percent increase in other income from ₱1.43 billion to ₱1.52 billion, which was accounted for by the increase in other income from hotel operations and foreign exchange gains for the six months ended June 30, 2025.
Meanwhile, DoubleDragon’s real estate investment trust DDMP REIT Inc. reported that its net income inched up 1.5 percent to ₱782.6 in the first half of 2025 from ₱771.0 million last year as weaker rent income was more than offset by a jump in charges to mall tenants.
Total revenues were flat at ₱999.6 million as rent income dropped to ₱779.9 million from ₱879.1 million in the first half last year, mainly due to expired leases which will be replaced by incoming tenants.
The Company’s interest income decreased by 24.0 percent to ₱20.7 million from ₱27.2 million due to decrease in interest income from finance leases.
Other income increased to ₱199.0 million for the six months ended June 30, 2025, compared to ₱88.3 million for the same period in 2024 due to increase in other charges and interests to mall tenants.

Related Tags

DoubleDragon Corporation Hotel101 Edgar Sia II Tony Tan Caktiong DDMP REIT Inc.
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