DoubleDragon acquires 3rd site for warehouse

MANILA, Philippines — CentralHub Industrial Centers Inc., the warehouse leasing subsidiary of DoubleDragon Properties Corp., has acquired the third site for its industrial warehouse complex in Danao, Cebu.

With an initial size of 5.2 hectares, CentralHub-Cebu will have a capacity of 27,212 square meters of industrial warehouse space.

This will be the second major hub of CentralHub in the Visayas region following the recent acquisition of CentralHub-Iloilo.

The  first hub is CentralHub-Tarlac, whose first phase was already completed and turned over to its commissary tenant.

CentralHub-Cebu also brings to 15.3 hectares the total prime industrial land CentralHub has acquired to date.

In terms of capacity, the three hubs will have a total capacity of 81,219 sqm.

CentralHub is envisioned to become the leading provider of industrial warehouses in the Philippines.

DoubleDragon aims is to put up eight CentralHub sites by 2020, two of which will be in North Luzon, two in South Luzon and two in Visayas.

Each hub will contain modern standardized multi-use warehouses suited for commissaries, cold storage, light manufacturing and logistics distribution centers.

As another leg of business, CentralHub is expected to play a larger role in DoubleDragon’s expansion plans for 2020 and beyond.

DoubleDragon chairman Edgar “Injap” Sia II said the industrial leasing business would ride on the strong growth of the e-commerce business in the country and boost the company’s recurring income.

“At the current pace of DoubleDragon’s developments that come on-stream and operational, at almost one project completion per week, this naturally translates to a substantial build-up of quality recurring revenue cash flow for the company,” Sia said.

CentralHub will cater to the rising demand for industrial warehouse space from logistics, commissary, cold storage, distribution, manufacturing, consumer- related and e-commerce companies alike.

DoubleDragon has a target to complete a leasable portfolio of 1.2 million sqm by 2020 comprising of 700,000 sqm from 100 CityMalls, 300,000 sqm from its Metro Manila office projects DD Meridian Park and Jollibee Tower; 100,000 sqm from the planned 5,000 hotel rooms of Hotel101 and Jinjiang Inn Philippines and another 100,000 sqm of industrial space from eight CentralHub sites across Luzon, Visayas and Mindanao.