LISTED property developer DoubleDragon Corp. on Monday said its Dragon8 Mall in Divisoria, Manila, expects a further increase in customer count during the holiday rush after reaching a three-year high.
DoubleDragon reported a weekend foot traffic of 67,136 customers, the company said in a statement to the stock exchange.
“The customer volume… is expected to further increase in the coming weeks,” the company added.
The company also expects its customer foot traffic to surpass 200,000 upon the completion of the North-South Commuter Railway (NSCR) urban rail project.
The Tutuban (Manila)-Malolos (Bulacan) rail project is part of the 163-kilometer NSCR urban rail transit system from Calamba in South Luzon to Clark in Central Luzon. It is expected to carry more than 200,000 commuters daily.
“The upcoming completion of the initial 38-kilometer Malolos-Tutuban rail project, to be followed by the completion of the whole 163 kilometers NSCR urban rail transit project is expected to become a major catalyst in further liven up the economic activity in Divisoria Manila area,” DoubleDragon said.
For the third quarter, DoubleDragon said its net income attributable to the equity holders of the parent company climbed 94% to P626.15 million from P322.64 million last year.
While its third quarter revenues declined 13.8% to P2.2 billion from P2.56 billion but was offset by a 7% decline in costs and expenses to P1.28 billion from P1.38 billion.
Its DoubleDragon8 Mall in Divisoria houses 405 tenants, the company said.
The company’s total assets now stood at P163 billion and has now finished 1.3 million square meters of gross-floor-area portfolio.
At the local bourse on Monday, shares in the company went down by 21 centavos or 2.53% to end at P8.10 apiece. — Ashley Erika O. Jose
