SIA-LED DoubleDragon Corp. said on Wednesday that its unit Hotel101 Global Pte. Ltd. expects to generate about $128.88 million or P7.12 billion in sales for its location in Niseko Hokkaido, Japan.
“The Hotel101-Niseko units are seen as a solid investment since the unit owners are able to directly and perpetually own a real estate hard asset through the full ownership of the unit through a condominium title,” the company said in a disclosure.
The company also said that it has tapped H2 Christie’s International Real Estate as the exclusive sales and marketing agent of the Japan location.
H2 Christie’s International Real Estate is said to be the esteemed brokerage division specializing in lifestyle real estate within the H2 Group.
DoubleDragon said the real estate firm may also tap sub-agents under it to market the units that would come with the perpetual titled individual unit ownership.
“The upcoming Hotel101-Niseko sits on a sprawling 1.17-hectare property in Hokkaido Prefecture, Japan and is expected to be patronized by local domestic travelers in Japan, and foreign tourists from other countries,” it said.
“The extension of the Shinkansen bullet train to Niseko and Sapporo will further improve access to the region which is also reported to be in the running to host the 2030 Winter Olympics,” the company added.
The company said the location is set to be the biggest value hotel in Niseko encompassing 482 signature HappyRooms offering “comfort, convenience, and accessibility to all types of travelers.”
Hotel101 Global is a Singapore-registered worldwide hotel expansion subsidiary of DoubleDragon.
DoubleDragon targets to list its subsidiary Hotel101 Global on Nasdaq in the US as it expects the unit to eventually derive more than 95% of its revenues outside the Philippines.
It said earlier that its first three overseas projects will be in Niseko Hokkaido in Japan, Madrid in Spain, and California in the US.
DoubleDragon climbed by 1.4% or 10 centavos to P7.25 per share on Wednesday. — Adrian H. Halili