BIZ BUZZ: 3rd batch of Spanish Golden Visa recipients

The sale of Hotel101-Madrid units appears to be smooth flowing as DoubleDragon (DD) Corp. welcomed its third batch of Golden Visa grantees. And the joint venture of tycoons Edgar Sia II and Tony Tan Caktiong sees no sign of a slowdown.

Now that DD has built momentum, it expects that the succeeding Golden Visa issuances will “just flow consistently … every few weeks,” especially because Hotel101 has proven that it is a “highly suitable” investment.

A Golden Visa for Spain is issued to non-European citizens who has made substantial investment in the country, like acquiring properties worth 500,000 euro. Purchasing three Hotel101-Madrid units qualifies the buyer for this visa, seen suitable for moneyed people who’d like to frequent the Old World.

The Madrid venture, designed to house 680 rooms, is targeted to be completed by the end of next year.

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DD also broke ground for a 482-room Hotel101-Niseko in Hokkaido, Japan last year.