Hotel101 overseas venture poised to raise P5.8-B  

DoubleDragon Corp., the real estate firm headed by Edgar "Injap" Sia II and Tony Tan Caktiong, anticipates securing P5.8 billion in contracted unit sales from its Hotel101 overseas ventures within the next 12 months.

In a regulatory filing on Wednesday, the company said the optimism was driven by the recent influx of interest in its projects abroad such as the Hotel101-Madrid Spain, among others.

“DoubleDragon hits the milestone of first ever in its history to have received cash payments in foreign currency equivalent to over $10 Million in the form of foreign currency cash from many retail buyers collected in barely just a few months mainly in the second quarter,” the report read.

To date, the construction of Hotel101-Madrid Spain, led by Ferrovial Construcción, is in full swing to hit its completion target by the last quarter of 2025. 

Hotel101-Madrid is expected to open just in time for the start of the Madrid F1 Grand Prix, which happens to be located right beside the property.

The 680-room Hotel101-Madrid project is set to become one of the top 5 largest hotels in Madrid, Spain, and is located in a 6,593 square-meter prime commercial property recently purchased by Hotel101.

The project is conveniently located along Avenida Fuerzas Armadas, Valdebebas, Madrid, which is surrounded by major landmark buildings like the Valdebebas TrainStation, IFEMA convention complex, Real Madrid Sports Complex, and the new Madrid Barajas International Airport.