The new office space lease take up is expected to form part of the goal of DDMP REIT Inc to achieve 95% occupancy by the end of 2023
DDMP REIT Inc has successfully received a payment of ₱55.26 million in rental deposits for a prime office space spanning 15,100 square meters or 1.51 hectares. This leasing arrangement, valued at a total of ₱798.81 million, contributes significantly to DDMP REIT Inc’s objective of achieving a remarkable 95% occupancy rate by the close of 2023.
The recently acquired office space is located within the esteemed DoubleDragon Plaza at DD Meridian Park. Positioned as a mini central business district (CBD) within the Bay Area, this plaza boasts an enviable landmark double corner location at the intersection of EDSA, Roxas Boulevard, and Macapagal Avenue in Pasay City, Metro Manila.
Notably, DoubleDragon Plaza holds the prestigious LEED Gold certification and currently serves as the headquarters for two prominent government agencies—PEZA (Philippine Economic Zone Authority) and TIEZA (Tourism Infrastructure Economic Zone Authority). Additionally, plans are underway to welcome a third government agency to join the complex, alongside numerous private corporate head offices.
With its strategic location, DoubleDragon Plaza at DD Meridian Park presents a host of advantages for various tenants, including corporations, government entities, and BPO companies. The ground floor of the plaza features popular food chain brands such as Jollibee and Mang Inasal, offering convenient dining options. Moreover, the complex distinguishes itself as the sole establishment in the vicinity housing eight commercial banks—Landbank, RCBC, PNB, BPI, AUB, Unionbank, Chinabank, and BDO—facilitating seamless banking transactions for its occupants. The convenience extends further with the presence of MerryMart Grocery, a full-sized supermarket on the ground floor. To accommodate visitors, the complex offers ample parking spaces, including a dedicated large basement parking area for external customers visiting DD Meridian Park for business or leisure purposes.
In terms of accessibility, DoubleDragon Plaza holds a prime location just a 10-15 minute drive away from NAIA airport via NAIAx. It also offers easy access to the top three convention centers in the Philippines—PICC, SMX, and the World Trade Center—as well as other central business districts in Metro Manila.
“Amidst economic uncertainties, the market will witness a multitude of options for office spaces. However, as clarity emerges, discerning office tenants, particularly corporate entities, will opt for efficiently designed, newly constructed LEED Gold buildings like DoubleDragon Plaza at DD Meridian Park. These establishments situated in prime locations offer superior value compared to alternative CBDs,” remarked Edgar Injap Sia II, Chairman of DDMP REIT Inc.
In times of extraordinary global economic challenges, the inherent advantages of each project and business line become pivotal. Chairman Injap Sia II expressed gratitude to the entire DoubleDragon team and the support of stakeholders within the DoubleDragon Group, emphasizing their strategic planning and foresight in nurturing successful endeavors like DoubleDragon Plaza at DD Meridian Park. This achievement showcases the positive and distinctive impact of their efforts, which have taken root over the years.
