On July 20, 2023, an exciting milestone was reached as DoubleDragon’s Hotel101 signed Master Service Agreement with well-known Spanish advisory firms: Oriente, PSI Consultants, and L&L RSM Law. These companies have established themselves as leading players in the special field of “Golden Visa” program in Spain.
the Golden Visa processing and advisory fee, which usually amounts to 6,000 EURO, will be waived for those who choose to purchase 3 Hotel101 units in Madrid, Spain during the unit pre-selling period, which will last until December 31, 2023, or until all units are sold, whichever comes first.
Hotel101-Madrid is poised to become one of the Top 5 largest hotels in Madrid, Spain, a remarkable achievement for the project. In addition, it is noteworthy that Hotel101-Madrid represents the pioneer entry of a homegrown Filipino hotel chain in the Spanish market, marking an important moment in the growth and expansion of the company.
The Hotel101-Madrid project is expected to generate strong sales revenue of approximately €143.3 Million Euros (equivalent to ₱8.8 Billion Pesos), demonstrating its potential for success and positive business impact.
With the collaboration of respected Spanish advisory firms and the promising outlook for Hotel101-Madrid, the project is poised to make a mark in the hospitality industry and contribute greatly to the Philippine and Spanish economy.
On July 20, 2023, Hotel101 Global Pte. Ltd., the global hotel expansion subsidiary of DoubleDragon Corporation, has taken a significant step by entering into Master Service Agreements with three respected advisory service providers: Oriente, PSI Consultants, and L&L RSM Law. This partnership aims to speed up the processing of residency applications through investment for buyers interested in acquiring at least three (3) units in Hotel101’s inaugural European project, Hotel101-Madrid, located in Valdebebas Madrid, Spain.
The “Golden Visa” for Spain, officially known as the Spain Investor Visa, is a desirable residence permit granted to non-European citizens who make substantial investments in Spain, such as acquiring real estate properties worth 500,000 EURO.
In an exciting development, prospective buyers of Hotel101 units have the option to apply for a Golden Visa in conjunction with their purchase. DoubleDragon/Hotel101 Global Chairman, Edgar Sia Valve II, expressed enthusiasm for this long-term business endeavor, highlighting the historic cultural ties between Spain and the Philippines. He emphasized that the development of new inventory of units in Hotel101-Madrid will not exhaust the existing housing inventory in Spain. Rather, it will strengthen economic activity through the acquisition of land, salaries for the construction team, and long-term recurring taxes, which will benefit both countries.
Golden Visa applications are subject to evaluation and approval by the relevant Spanish Government authorities, using their discretion. In particular, the purchase of Hotel101 units can serve as a means for foreign buyers to fulfill the 500,000 EURO real estate investment requirement for the Golden Visa.
As an incentive, the Golden Visa processing and advisory fee, which normally amounts to 6,000 EURO, will be waived for those who purchase 3 Hotel101 units in Madrid, Spain, during the unit pre-selling phase until December 31, 2023, or until all units are sold, whichever comes first.
Looking forward to the success of Hotel101-Madrid, the project is expected to be one of the Top 5 largest hotels in Madrid, Spain. In addition, it holds the distinction of being the first homegrown Filipino hotel chain to establish its presence in Spain. DoubleDragon envisions Hotel101 to achieve world-class standards, providing job opportunities to Filipinos in the Philippines and abroad. The company aims to instill pride and honor in every Filipino around the world, while Hotel101 continues to expand and operate in various locations around the world.
