MANILA, Philippines - DoubleDragon Properties Corp., a joint venture between Mang Inasal founder Edgar “Injap” Sia II and Jollibee Foods owner Tony Tan Caktiong, is building the Jollibee Tower in the Ortigas central business district.
In a briefing yesterday, Sia said the 40-story commercial and office tower that will rise at the corner of F. Ortigas Jr. and Garnet Road is slated to be completed by 2018. Construction of the building will commence in the fourth quarter this year.
DoubleDragon said the ground floor would include commercial spaces and a drive-thru store provision while the second and third floors would house an event center.
Selected floors would be used by Jollibee as its offices while the rest of the floors would be leased out to other corporate and BPO companies.
“Jollibee Tower will be designed as a Grade A structure and is expected to secure Leadership in Energy and Environmental Design (LEED) certification in line with DoubleDragon’s core values in promoting sustainable developments through ‘green’ technology,” DoubleDragon said.
The LEED certification is a globally recognized green building rating system.
Once fully occupied, the Jollibee Tower is expected to generate about P350 million in annual rental revenues to DoubleDragon.
DoubleDragon aims to build a total of one million square meters of leasable space across the country by 2020, which would help bring its net income to P4.8 billion in five years.
“The goal is to have one million leasable space in five years or 300,000 sqm in Metro Manila and 700,000 sqm in provincial sites. The land for the 300,000 is already fully secured mainly from DoubleDragon’s Meridian Park office project in the Bay Area and the Jollibee Tower,” Sia said.