DoubleDragon seeks more properties, diversified tenant mix in next 3 years

MANILA, Philippines — DDMP REIT Inc. (DDMPR), the real estate investment trust of DoubleDragon Corp., targets to expand its portfolio over the next three years through investments in new real estate properties and diversification of its tenant mixes.

Under DDMPR’s three-year investment strategy, the company said that it continues to look for properties to acquire in high-growth areas, whether from the DoubleDragon Group or third parties.

DDMPR said that a potential new property should be high quality, Grade A commercial assets in prime locations in either Metro Manila or key provinces in the country.

“Properties that are strategically located in prime location and positioned as a mini central business district, with convenient access to public transportation,” the company said.

“Grade A buildings are often in high-demand due to their location, facilities, layout and finishing among other actors,” it said.

On top of acquiring new properties, DDMPR also aims to further grow and diversify its tenant mixes.

“With the existing property portfolio in a prime location and positioned as a mini central business district with the presence of government offices, we target to capitalize on this and bring in new strong and quality tenants,” DDMPR said.

“As new industries come, it is an opportune time for DDMPR to further diversify its tenancy mix across various industries including the banking, insurance and financial services; government agencies; as well as technology, media and service sectors,” it said.

At present, DDMPR’s asset portfolio are all LED certified and located in Metro Manila with access to public transportation.

Its property portfolio consists of three operational office buildings with six operating towers in DD Meridian Park in Pasay City.

DD Meridian Park is being developed as an office-led mixed-use development.

It is home to a highly diversified tenant base, given its prime strategic location.

DDMPR said that DoubleDragon Plaza, DoubleDragon Center East and DoubleDragon Center West, all of which are located in DD Meridian Park, have exhibited solid and stable cash flows from rental revenue and have experienced a consistently high occupancy rate.

As of end-September, DoubleDragon Center East has an occupancy rate of 100 percent, while DoubleDragon Center West and DoubleDragon Plaza have 94.76 percent and 70.81 percent, respectively.

“The company believes the properties are an attractive investment option for potential stakeholders, having exhibited a strong lease take up and potential for growth,” DDMPR said.