DD-Meridian Park Development Corp. Signs an Agreement to Develop a Five-Star Luxury Serviced Apartment at the Bay Area, Corner Macapagal Avenue and EDSA Extension, Pasay City, Metro Manila
June 19, 2017 at 12:26 am EDT
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DD-Meridian Park Development Corp. signs an agreement to develop a five-star luxury serviced apartment as the third phase of its project DD Meridian Park located at the Bay Area, corner Macapagal Avenue and EDSA Extension, Pasay City, Metro Manila. Ascot -DD Meridian Park Manila will sit on a 5,567 square meter lot within the 4.8 hectare complex and is expected to have over 300 luxury serviced apartment units. The Ascot Limited is one of the leading international service residence owner-operators in the world with more than 300 properties in over 100 cities spanning more than 25 countries across the Americas, Asia Pacific, Europe and the Middle East. Ascot is a member of CapitaLand. Headquartered and listed in Singapore, it is an owner and manager of a global portfolio worth more than SGD 78 billion as of March 31, 2017. The location of the upcoming Ascot -DD Meridian Park Manila is very ideal for the project given its close proximity to the Manila Domestic and International Airport, Department of Foreign Af airs, Mal of Asia and the Entertainment City. Construction of Ascot -DD Meridian Park Manila is set to break ground within the year and is expected to be completed and operational by 2020. The 4.8 hectare DD Meridian Park will consist of 8 towers that is expected to have about 230,000 square meters of leasable space. The first phase with 4 towers named DoubleDragon Plaza is set to be completed by the last quarter of this year 2017, while the second phase DoubleDragon Center-East and DoubleDragon Center-West is expected to be completed by the last quarter of 2018. The development of Ascot -DD Meridian Park Manila is the third phase of the complex and is expected to further enhance the profile of the entire development and meaningful y contribute to the recurring revenues of DoubleDragon.
DDMP REIT, Inc. is a Philippines-based real estate company. The Company is a commercial real estate investment trust formed primarily to own and invest in an income-producing commercial portfolio of office, retail, industrial and hotel properties in the Philippines. It is engaged in the business of real estate development including but not limited to residential and condominium projects, to acquire by purchase or lease land and interest in land, to own, hold, impose, promote, develop, subdivide and manage any land owned, held or occupied by the Company, to construct, manage or administer buildings such as condominiums, apartments, hotels, restaurants, stores or other structures and to mortgage, sell, lease or otherwise dispose of land, interests in land and buildings or other structures at any time. Its property portfolio consists of three operational office buildings with retail components in DD Meridian Park. DD Meridian Park is being developed as an office-led mixed-use development.
DD-Meridian Park Development Corp. Signs an Agreement to Develop a Five-Star Luxury Serviced Apartment at the Bay Area, Corner Macapagal Avenue and EDSA Extension, Pasay City, Metro Manila
DDMP REIT INC. 