DoubleDragon profit triples on global push

DoubleDragon Corp. (DD), led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, more than tripled its core net income to P3.91 billion in the first nine months, as overseas expansion drove foreign currency revenues to account for the majority of quarterly core revenues for the first time.

In a regulatory disclosure on Friday, the company. said core net income surged 253.59 percent year-on-year, supported by stronger contributions from its property businesses and the growing international footprint of its Hotel101 hospitality brand.

Consolidated revenues nearly doubled, climbing 98.76 percent to P20.78 billion, while core revenues jumped 143.65 percent to the same amount, with no property revaluation gains recorded during the period.

The earnings momentum extended into the third quarter, when net income soared more than sixfold to P1.13 billion from P183.67 million a year earlier.

DoubleDragon’s overseas operations are emerging as a major growth driver, with foreign currency revenues accounting for 59.03 percent of quarterly core revenues.

Under its business model, Hotel101 generates revenues from both hotel unit sales and recurring hotel operations, with plans to develop one million standardized rooms across more than 100 countries.

“DD has generated a significant increase in its core revenues and core income,” the company said.

DoubleDragon expects further growth from Hotel101 unit sales in the Philippines and overseas, alongside contributions from its leasing portfolio, new malls, warehouses, office tenants and MerryMart supermarkets.

As of end-September, the company’s total assets reached P256.82 billion, up P31.56 billion from end-2025, while total equity increased by P5.41 billion to P107.02 billion.

With its international operations gaining traction, DoubleDragon expects to achieve its P500-billion cumulative core revenue target ahead of its 2035 deadline.