On August 22, 2023, a significant construction milestone was achieved as DoubleDragon’s subsidiary carried out the Topping Off ceremony for ASCOTT at DD Meridian Park. This event marks the completion of the building’s structural framework and the highest floor of the project.
ASCOTT-DD Meridian Park, boasting more than 300 exquisite serviced residences situated just behind DoubleDragon Plaza, is on track to become operational. It is anticipated that the property will commence generating consistent revenues by the year 2024.
Distinguished as a premium luxury development, ASCOTT-DD Meridian Park will not only finalize the complex but also contribute to its overall composition. Positioned as a Mini-CBD (Central Business District) within the Bay Area of Pasay City, Metro Manila, this development adds an extra layer of sophistication. The management and operation of Ascott-DD Meridian Park will be overseen by The Ascott Limited, a subsidiary of Singapore-based property company Capital Land, renowned for its global operations.
DoubleDragon Plaza has earned the esteemed LEED Gold certification and currently serves as the headquarters for two prominent government agencies, namely PEZA (Philippine Economic Zone Authority) and TIEZA (Tourism Infrastructure Economic Zone Authority). Moreover, it is on the brink of accommodating a third government agency that seeks to relocate its headquarters to this complex. Additionally, numerous private corporate head offices are housed within the premises.
The multifaceted advantages of DoubleDragon Plaza at DD Meridian Park cater to a diverse array of office tenants, including corporations, government entities, and BPO companies. This is attributed to its prime landmark location, enriched by an array of top-tier food chain brands on the Ground Floor, such as Jollibee and Mang Inasal, among others.
DD Meridian Park boasts the characteristics of a mini-CBD within the Bay Area, uniquely offering access to eight commercial banks, namely Landbank, RCBC, PNB, BPI, AUB, Unionbank, Chinabank, and BDO. This consolidation of banking options creates unparalleled convenience for office tenants to conduct their financial transactions. The Ground Floor of DoubleDragon Plaza is further complemented by a full-sized supermarket, MerryMart Grocery. The complex’s extensive parking facilities include a dedicated large basement parking area for external visitors, catering to both business-related visits and leisure.
Situated at a landmark double corner location, DoubleDragon Plaza is conveniently positioned within a 10-15 minute drive to NAIA airport via NAIAx. It is also in close proximity to the Philippines’ top three convention centers—PICC, SMX, and World Trade Center—and easily accessible from various other CBDs in Metro Manila.
Anticipated to be fully developed by 2024, the expansive 5-hectare DoubleDragon Meridian Park complex is poised to mature into a prime hard asset portfolio, achieving optimal levels of recurring revenues by 2025.
The above statements involve forward-looking projections that are based on certain managerial assumptions and are subject to potential risks, opportunities, and unforeseen events. Actual outcomes might diverge significantly from what is considered in the indicated forward-looking statement.
DoubleDragon does not provide assurances that these forward-looking statements will prove accurate or that the intended objectives will remain unchanged. This press release encompasses crucial factors that could result in substantial differences between the actual results and DoubleDragon’s expectations. All subsequent written and verbal forward-looking statements made by the Company or individuals acting on behalf of the Company are explicitly qualified in their entirety by the aforementioned cautionary remarks.
