MANILA, Philippines — DoubleDragon Properties Corp. topped off the Jollibee Tower in Ortigas, a 41-storey commercial and office tower with the fastfood giant as the anchor tenant.
The company expects to start the handover of the units to tenants next month, a move that will boost DoubleDragon’s rental income this year.
In particular, the Jollibee Tower is expected to contribute annual recurring earnings of P631.8 million to DoubleDragon.
DoubleDragon’s office portfolio includes Tower 1, Tower 2, Tower 3 and Tower 4 of DoubleDragon Plaza as well as DD Center-East and DD Center-West in DD Meridian Park and Corporate Tower of Skysuites.
The completion of one more office building DoubleDragon Tower in DD Meridian Park will fully complete the company’s 2020 office leasable space target of 300,000 square meters.
The project is located at the corner of F. Ortigas Jr. Road (formerly Emerald Avenue) and Garnet Road. It has has a total leasable area of 59,365 sqm and will feature ground floor retail concepts of the Jollibee Group as well as an events center at the second floor.
The rest of the floors will be leased as office spaces.
DoubleDragon targets to complete a leasable portfolio of 1.2 million sqm by 2020, comprising of 700,000 sqm from 100 CityMalls, 300,000 sqm from its Metro Manila office projects DD Meridian Park and Jollibee Tower, 100,000 sqm from the planned 5,000 hotel rooms of Hotel101 and Jinjiang Inn Philippines, and another 100,000 sqm of industrial space from various centralhub sites across Luzon, Visayas and Mindanao.