Double Dragon Properties Inc. is adding a five-star luxury serviced apartment to the portfolio of its flagship project DD Meridian Park located at the Bay area at the corners of Macapagal Ave. and EDSA Extension in Pasay City.
The serviced apartment will be undertaken through subsidiary DD-Meridian Park Development Corporation that has signed a joint venture agreement with Ascott Limited for the project.
The project Ascott-DD Meridian Park Manila will have 300 luxury serviced apartment units.
It will consist of eight towers that are expected to have about 230,000 square meters of leasable space. Project completion is slated by 2020.
The development of the serviced apartment complex is the third phase of its 4.8-hectare DD Meridian Park that is expected to generate recurring income for the company.
The company’s partner for the development Ascott Limited is one of the leading international service residence owner-operators in the world and a member of CapitaLand, one of Asia’s biggest real estate firms. It has more than 300 properties in over 100 cities worldwide.