DoubleDragon Properties Corp announced that its industrial warehouse leasing subsidiary, CentralHub Industrial Centers (CentralHub), has acquired its third site for CentralHub industrial warehouse complex located in Danao City, 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, two of which will be located in North Luzon which include CentralHub-Tarlac, two in South Luzon, two in Visayas which include CentralHub-Iloilo and CentralHub-Cebu and two in Mindanao.
These eight CentralHub locations is 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 8 CentralHub sites by 2020. CentralHub is expected to play a larger role in DoubleDragon’s expansion plans 2020 and beyond.
“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,” said DoubleDragon Chairman Edgar “Injap” Sia II.
Industrial warehouse leasing is one of DoubleDragon’s four pillars of growth, which also include provincial retail leasing, office leasing and hotels in line with its vision to be a primarily recurring revenue focused property company. – BusinessNews.ph