DoubleDragon to acquire first overseas property for Hotel 101 by 2nd quarter of 2022

GMA News

Posted at Feb 15 2021 12:53 PM


Real estate developer DoubleDragon Corp. is a step closer to expanding its Hotel 101 brand overseas, as it reported the completion of the amendment of its offshore subsidiary’s primary activities in Singapore.


DoubleDragon said it expects to purchase its first property for development outside the Philippines by the second quarter of 2022, and launch by the second half of the year.


This comes as the firm said its Hotel 101 Worldwide Private Limited completed the change of its principal and secondary activities on Singapore’s Regulatory Authority, allowing it to hold acquisition, investment, and development of real estate properties and ventures.


The changes also allow the firm to conduct real estate sales, marketing, operations, and management of its projects outside the Philippines.


According to Chairman Edgar “Injap” Sia II, the company seeks to develop a homegrown global hotel chain, similar to brands such as the US’ Holiday Inn, Europe’s Novotel, China’s Jinjiang Inn, Malaysia’s Shangri-La, Thailand’s Dusit, Japan’s Nikko, and Singapore’s Raffles.