DoubleDragon sets final offer price for its real estate investment trust

Double Dragon prides itself on its properties in prime locations.

MANILA – Double Dragon Properties Corp announced Monday that the final offering price for the property investment trust’s IPO of P14.7 billion has been set at P.225 per unit, the high end of the range, due to strong demand .

“The price is at the high end of the range due to strong demand during the book build process,” said Double Dragon’s DDMP REIT Inc.

DDMP REIT Inc is a unit of Double Dragon Properties Corp.

The forecast dividend yield specified in the REIT plan is 5.07 percent for 2021 and 5.45 percent for 2022.

The company’s properties include a corner lot along Macapagal Avenue, the EDSA extension and Roxas Boulevard, which has 6 completed buildings, said Edgar “Injap” Sia II, chairman of Double Dragon.

Real estate mutual funds offer the public more opportunities to participate in real estate investments.

DoubleDragons DDMP and Ayala Lands AREIT are the first to be listed on the Philippine Stock Exchange.

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