DoubleDragon's subsidiary Hotel101 Global has broken ground its upcoming development in Spain.

The groundbreaking ceremony for the 6,593 square-meter property was attended by the Minister of Economy, Finance and Employment of the Region of Madrid, Spain Rocio Albert Lopez-Ibor and  Philippine Ambassador to Spain Philippe Lhuillier.

Present at the historic occasion is DoubleDragon chairman Edgar Injap Sia II, Hotel101 chief executive officer Hannah Yulo-Luccini and DoubleDragon co-chairman Tony Tan Caktiong. The milestone event was also graced by the officers of Ferrovial Construction Group represented by Juan Luis Junguito Oppelt, director Region Centro of Ferrovial; Belen Marquina Susinn, directoria Edificacion Madrid of Ferrovial; Manuel Angel Sanz Pecharroman, Jefe de Grupo de Obras of Ferrovial; and Equicom Group chairman Antonio Go.

Ferrovial Construction based at Valdebebas, Madrid, is the official construction partner of Hotel101 Madrid.

One of the largest construction companies in Spain, Ferrovial is set to commence full-swing-construction of the hotel by April 2024. It is scheduled to be fully completed by Q4 2025, opening just in time for the start of the Madrid F1 Grand Prix located right beside Hotel101-Madrid.

The 680-room Hotel101-Madrid is set to become one of the top five largest hotels in Madrid, the second in the first three overseas projects of Hotel101.

Located in Avenida Fuerzas Armadas, Valdebebas, Madrid, Hotel101 Madrid is surrounded by major landmark buildings. It is a three-minute walk to the Valdebebas Train Station, four-minute walk to IFEMA convention complex, five-minute walk to Real Madrid Sports Complex and around seven-minute walk to the new Madrid Barajas International Airport.