DDMP REIT Profit Rises 40% To P558.9 Million (US$10.66 Million) In Q1 (The Philippine Star)
May 19, 2022 – DDMP REIT, the real estate investment trust of DoubleDragon Properties, reported a net income of P558.9 million (US$10.66 million) in the first quarter, up by 39.8 percent from the same period last year.
DDMP REIT chairman Edgar Injap Sia II said the company has remained resilient despite the COVID-19 pandemic.
“We believe that the most important feature of DDMP REIT is that 100 percent of its leasable space sits on prime commercial titled land that DDMP REIT perpetually owns, as over a long period of time, the land value is expected to surpass the value of the building structures, and in the specific case of DDMP REIT, both the titled land and the buildings are owned by the DDMP REIT shareholders forever because the land is titled, and is not a leasehold,” Sia II said.
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