Published
By James A. Loyola
DoubleDragon Properties Corporation’s industrial warehouse leasing
subsidiary CentralHub Industrial Centers Inc. is expanding its presence
in the Visayas with the acquisition of its third site.
In a disclosure to the Philippine Stock Exchange, DoubleDragon said
the new site for its CentralHub industrial warehouse complex is located
in Danao, Cebu.
CentralHub-Cebu will have an initial area of 5.2 hectares with 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.
A total of 15.3 hectares of prime industrial land has been acquired
by CentralHub to date with a total capacity of 81,219 square meters of
industrial warehouse leasable space.
This includes its pilot development, CentralHub-Tarlac, whose first
phase was already completed and turned over to its commissary tenant.
CentralHub is envisioned to become the leading provider of industrial
warehouses in the Philippines through the development of its first
eight CentralHub sites by 2020.
Of the eight, two will be located in North Luzon (including
CentralHub-Tarlac), two in South Luzon, two in the Visayas (Iloilo and
Cebu) and two in Mindanao.
These eight CentralHub locations are projected to have a total
capacity of up to 400,000 square meters of warehouse leasable space.
Each hub will contain modern standardized multi-use warehouses suited
for commissaries, cold storage, light manufacturing and logistic
distribution centers.
The Company aims to have at least 100,000 square meters of leasable
industrial warehouse space spread across eight CentralHub sites by 2020.
CentralHub is expected to play a larger role in DoubleDragon’s expansion plans 2020 and beyond.
DoubleDragon Chairman Edgar “Injap” Sia II said “we are very
enthusiastic over the distinct potential of CentralHub industrial
complexes. Just on the pilot phase in CentralHub-Tarlac it is already
achieving double digit yields which we expect will further strengthen as
CentralHub scale up in number of warehouses.”
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