Today August 22, 2023, DoubleDragon’s subsidiary conducts Topping Off of ASCOTT at DD Meridian Park as the building structure and topmost floor of the project has been completed.
ASCOTT-DD Meridian Park with over 300 luxury serviced residences located right behind DoubleDragon Plaza is expected to be operational and begin to generate recurring revenues by 2024.
The premium luxury development ASCOTT-DD Meridian Park will complete and further enhance the mix of the whole complex as it is positioned to be the Mini-CBD (Central Business District) in the Bay Area of Pasay City, Metro Manila. The Ascott Limited is a subsidiary of Singapore based property company Capital Land, which has operations worldwide will operate and manage Ascott-DD Meridian Park.
DoubleDragon Plaza is LEED Gold certified and currently houses two government agency headquarters namely PEZA (Philippine Economic Zone Authority) and TIEZA (Tourism Infrastructure Economic Zone Authority) and expects to soon welcome an additional third government agency to relocate their headquarters in the complex, in addition to many private corporate head offices in the complex.
DoubleDragon Plaza at DD Meridian Park as a complex brings undeniable advantage to a variety of office tenants whether corporations, government agencies or BPO companies, given its very prime landmark location with various top food chain brands in the Ground Floor such as Jollibee, Mang Inasal and many others. DD Meridian Park is like a mini-CBD in the Bay Area being the only complex in the area that has 8 commercial banks (Landbank, RCBC, PNB, BPI, AUB, Unionbank, Chinabank, and BDO) making it uniquely convenient for office tenants to complete their banking transactions all within their proximity. These dining and banking options are further complemented by a full-sized supermarket, MerryMart Grocery, located at the Ground Floor of DoubleDragon Plaza. The complex also houses thousands of parking slots, with a separate conveniently located large parking area at the basement solely dedicated for outside customers who visit DD Meridian Park either for business meetings or leisure. DoubleDragon Plaza is located in a landmark double corner location, just 10-15 minutes drive to NAIA airport via NAIAx, a few minutes drive to the top 3 convention centers in the Philippines (PICC, SMX and World Trade Center), and not too far from other CBDs in Metro Manila.
The 5-hectare DoubleDragon Meridian Park complex is expected to be fully developed by 2024 and to become a fully mature prime hard asset portfolio, generating optimum level of recurring revenues by 2025.
The foregoing disclosure contains forward looking statements that are based on certain assumptions of Management and are subject to risks and opportunities or unforeseen events. Actual results could differ materially from those contemplated in the relevant forward looking statement and DoubleDragon gives no assurance that such forward-looking statements will prove to be correct or that such intentions will not change. This Press Release discloses important factors that could cause actual results to differ materially from DoubleDragon’s expectations. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on behalf of the Company are expressly qualified in their entirety by the above cautionary statements.
