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Dec 10 19, 9:53 am

Saudi king orders govt to pay 60% of private employees’ wages

Saudi King Salman has ordered the government to pay 60 percent of the salary of private employees affected by COVID-19. The financial support will cover the next three months, Saudi Press Agency reported. King Salman’s order is one of the major relief to private...

DoubleDragon expands portfolio

by | Lifestyle

Dec. 10, 19 | 9:53 am

MANILA: DoubleDragon Properties Corp. is seen to expand its leasable portfolio to 1.2 mllion sqm next year with 700,000 sqm coming from CityMalls and some 300,000 sqm expected to come from Metro Manila offices.

This even as the company, in a disclosure early this year, revealed that it net income went up by 193.57% to P7.42 billion last year, on the back of rising prime property values.

DoubleDragon specifically cited rising land values in 2017 which allowed it to “benefit both from the appreciation as well as gain strong foothold position with its portfolio of prime hard assets,” said a Rappler report.

“ DoubleDragon’s recurring revenues also grew to P3.03 billion in 2018 from P1.31 billion in 2017 due to higher rental revenues which ended the year with P2.50 billion,” the report further stated.

On the hotel front, DoubleDragon reported an increase in revenues by some 34% to P533.62 million, owing to higher occupancy and room rates.

DoubleDragon chief investment officer Hannah Yulo said in the disclosure that they also expect cashflow from operating income to grow further this year.

“These are the key accomplishments DoubleDragon is focused on as its trajectory continues in line with its goal of becoming a recurring-revenue focused company,” Rappler quoted DoubleDragon chief investment officer Hannah Yulo as saying.

DoubleDragon has 77 projects – completed and under development, of which 51 are malls and 10 are office buildings; there are also eight hotels, and eight warehouses.

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Saudi king orders govt to pay 60% of private employees’ wages

Saudi king orders govt to pay 60% of private employees’ wages

Saudi King Salman has ordered the government to pay 60 percent of the salary of private employees affected by COVID-19. The financial support will cover the next three months, Saudi Press Agency reported. King Salman’s order is one of the major relief to private...

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Filipino seafarer dies from COVID-19 in the United States

A Filipino seafarer from the MV Grand Princess cruise ship docked in San Francisco, California has died from the coronavirus disease or COVID-19.    The Philippine Consulate in San Francisco announced on Saturday.   Consul General Henry Bensurto Jr. said in a...

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