DoubleDragon revenues soar to record high in 2025

MANILA, Philippines — DoubleDragon Corp., the property developer chaired by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, saw its top line surge to a record high last year, driven by significant fresh revenues from its overseas operations.

DoubleDragon reported revenues of P27.91 billion in 2025, a 56.3-percent jump from P17.86 billion in 2024.

“Year 2025 marks the beginning of DoubleDragon’s pivot as it transitions away from the fair value gains it generated in the past years, as almost all those portfolios of leasing projects have already been fully built up, and core revenues have now started to dominate the composition of its total revenues,” the company said.

This year, DoubleDragon expects to further boost its core revenues and core income, noting that 2025 still has substantial one-time costs related to its US Nasdaq listing as well as expenses related to Hotel101 Global’s executive and employee stock options.

It said full shift to core revenues is expected by 2028 onwards.

DoubleDragon said 2026 would also see the highest number of room openings in a single year for the company, with a total of 2,229 hotel rooms slated to be operational.

As part of its 2035 vision, DoubleDragon aims to grow its revenues by 1,800 percent from P27.9 billion in 2025 to P500 billion in 2035.

The company also seeks to exceed P50 billion in net income by 2035.

DoubleDragon said it has remained focused on building a portfolio of hard assets in high-growth, sunrise industries, while simultaneously developing innovative and differentiated business models.

The company’s total assets as of end-2025 stood at P225.3 billion.

“DoubleDragon believes that gone are the days when Philippine companies bring in foreign brands and concepts to the Philippines or copy what works abroad to the Philippine market, but rather developing a truly unique and differentiated branded business model in the Philippines and then exporting it to the rest of the world would have a far larger and lasting positive impact on the Philippine economy,” it said.

Through Hotel101 Global, DoubleDragon aims to develop one million standardized rooms across 100 countries, with the ultimate goal of becoming the world’s largest single-brand hotel chain.