DD slates 2025 Madrid hotel launch
The project is expected to be delivered on schedule, and Ferrovial Construction will begin the full-swing construction next month
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The project is expected to be delivered on schedule, and Ferrovial Construction will begin the full-swing construction next month
DoubleDragon Corp., the real estate company led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, has started the development of the 680-room Hotel101 in Madrid, Spain, which is scheduled to be fully completed before the end of 2025.
The listed company informed the stock exchange on Thursday that it broke ground for the project and signed a construction contract with Ferrovial Construction, one of the largest construction companies in Spain.
The project is expected to be delivered on schedule, and Ferrovial Construction will begin the full-swing construction next month.
P8.8-B sales seen
According to a previous disclosure by DoubleDragon, Hotel101-Madrid has the potential to generate P8.8 billion in condotel sales revenue.
The property is located in Avenida Fuerzas Armadas, Valdebebas, Madrid, and is surrounded by major landmark buildings. It is only about a few minutes away from Valdebebas Train Station, the IFEMA convention complex, the Real Madrid Sports Complex, and the Madrid Barajas International Airport.
DoubleDragon had set ambitious goals for its local and offshore portfolios.
By 2025, the company aims to fully mature its local portfolio and achieve optimal revenue generation.
Simultaneously, DoubleDragon strives to gain a substantial market grip for its Offshore Hotel101 Global portfolio within the same year.
Moving forward, the company envisions Hotel101 Global Pte Ltd to reach a significant milestone of 500,000 uniform Hotel101 room portfolios globally by 2040.
This aspiration aims to transform the homegrown Filipino brand into one of the top five global hotel groups with operations spanning over 101 countries.
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