DoubleDragon to change name, amend Articles of Incorporation
ILOILO City – The Board of Directors of Double Dragon Properties Corporation ( DoubleDragon) has approved the amendment of its Articles of Incorporation to amend its primary purpose to transform it into an investment holding c ompany. The proposed amendment will be subject to the necessary regulatory and other approvals. The Board also approved the change of the corporate name of the company to DoubleDragon Corporation.
“Barely just few years ago, our family partnered with the Sia family as we saw exciting prospects in the Philippine real estate i ndustry. Fast forward today, DoubleDragon has grown from zero leasable space to 1.024 million square meters of completed GFA portfolio. In the hindsight, t hat decision has proven right as DoubleDragon from a small startup company has transformed into a company with now over P122.5 billion in assets,” said DoubleDragon co- chairman Tony Tan Caktiong.
He added that the company is now in an excellent position where i t can capitalize on its strong balance sheet to add worthwhile investments outside of t he property s e c t or t hat would have massive growth potential. He is also excited about what the future holds for the new DoubleDragon property.
“DoubleDragon i s now ready to begin its new journey as it aspires to become one of the most active, durable and responsible Filipino c o n g l o me r a t e s , ” s a i d DoubleDragon c hairman Edgar Sia II.
“As our world pivots to a new economy, we view t his as t he right t i me f or DoubleDragon to prepare itself for opportunities that will present itself along the way as we navigate out this global pandemic. We anticipate that after a major global disruption like we are experiencing right now, once the dust settles and things start to heal, it will surely cause some ventures t hat used t o be relevant and become irrelevant, and t ransform some t hat used to be irrelevant to become relevant,” added Sia.
Furthermore, he hopes t hat DoubleDragon will become a major contributor and be at t he f orefront i n the rebuilding of the new economy post t his unprecedented g l obal pandemic./