Hotel of Asia, Inc. (HOA) is eyeing the international scene for its Hotel 101 franchise this year. Business World Online reported that the DoubleDragon Properties Corp subsidiary is looking at putting up properties in Singapore as part of its international debut, with the properties targets at overseas Filipino workers (OFW) plying their trade in the country.
A statement released by the company Wednesday said that the Hotel 101 Worldwide Private LTD, the HOA's international arm, acquired a certificate of incorporation in Singapore. DoubleDragon is considering the Hotel 101 arm of its company an important asset since it gets profits from the pre-selling of units as well as the steady revenues the property generates once the operation starts and the development of the property is completed.
It was also last December when DoubleDragon's board approved the creation of the international subsidiaries. DoubleDragon currently maintains its presence in places like Hong Kong, the Middle East, Singapore, Japan, the United States, Italy, and London. The Hotel 101 brand will also be responsible for a 5,000-hotel room property currently in development and expected to become ready by 2020.
As for where they will put up the property, it's a big possibility that they can avail of this visionary plan from construction firm Shimizu Corporation. The firm is part of a team that is currently working towards creating a 'floating city' which will accommodate 50,000 or more people. According to Channel News Asia, they have already been looking at different locations in Singapore for possible areas of interest.
The 'floating city' will reportedly be dubbed the 'Green Float' and will house homes at the top, while offices sit at the middle. Vegetable farms will be spread along the bottom, along with scenic beaches. The area will also hopefully become part of the magnificent sea views that make Singapore so popular, according to reports.
Another possibility that they are looking at is to 'build on water.' A reason for Singapore's problems in housing is that there is limited land to build upon, whereas water surrounds most of it. A plan includes building on water, in adherence of course to the law governed by the Land Use Plan, which stipulates an additional 5,600 hectares of land to be used by 2030.
DoubleDragon hopes to use the Hotel 101 plans fully, saying that it will be an ideal investment for workers in Singapore who currently have no time to invest in properties back home.
