680-room Hotel 101-Madrid Spain exceeds expectation
Hotel101-Madrid, Spain now in full swing construction works as scheduled,following the ground breaking last March 2024. Overseas Hotel101 remarkably generated robust cash payments inflows from unitbuyers,exceeding the company’s expectations. DoubleDragon hits milestone of first ever in its history to have received cash payments inforeign currency of equivalent to over $10 million USD in form of foreign currency cash frommany 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 $100 millionUSD (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 constructionof 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 hotel project 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 purchasedby Hotel101 located along Avenida Fuerzas Armadas, Valdebebas, Madrid which issurrounded 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.
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