By Victoria “NIKE” De Dios
There’s no stopping the “Double Dragon” as construction work in Hotel101-Madrid, Spain now in full swing after the ground breaking last March 2024.
Apart from this, the fast-growing real estate company of the Philippines has also announced that the overseas Hotel101 remarkably generated robust cash payment inflows from unit buyers and this exceeds the company’s expectations.
This milestone is the first ever in its history that DoubleDragon boasts as it received cash payments in foreign currency equivalent to over US$10 Million in form of foreign currency cash from many retail buyers collected in barely just a few months mainly in the second quarter this year2024.
Given the trajectory of overseas projects, DoubleDragon expects to capture over US$100 million (or about ₱5.8 Billion pesos) of contracted unit sales in the next 12 months.
The construction of Hotel101-Madrid Spain is being constructed by Ferrovial Construcción. Ferrovial is one of the largest construction companies in Spain, and the ongoing construction of Hotel101-Madrid is scheduled to be completed by Q4 2025 next year.
Hotel101-Madrid is expected to open just in time for the start of the Madrid F1 Grand Prix, which happens to be located right beside the property.
The 680-room Hotel101-Madrid project is set to become one of the top 5 largest hotels in Madrid, Spain, and is located in a 6,593 square-meter prime commercial property recently purchased by Hotel101 located along Avenida Fuerzas Armadas, Valdebebas, Madrid which is surrounded by major landmark buildings and is about 3 minutes walk to the Valdebebas TrainStation, 4 minutes walk to IFEMA convention complex, 5 minutes walk to Real Madrid SportsComplex, and around 7 minutes to the new Madrid Barajas International Airport.
