Work on DoubleDragon’s Iloilo industrial hub begins
DoubleDragon Properties Corp. has broken ground on its second warehousing facility in line with its goal to develop eight CentralHub sites by 2020.
Located in a 3.9 hectare property in Iloilo, the new industrial hub will contain modern standardized multi-use warehouses suited for commissaries, cold storage, light manufacturing, and logistics distribution centers.
CentralHub is envisioned to become the leading provider of industrial warehouses in the country. Each warehouse will provide an initial 100,000 square meters of built up leasable industrial space.
The first site will rise in Tarlac, which is targeted for completion and ready for turnover to tenants next month.
Once fully developed, CentralHub-Tarlac and CentralHub-Iloilo can contribute about 54,000 square meters or 5.4 hectares of leasable industrial space.
“We believe that the industrial leasing segment presents significant growth opportunities for DoubleDragon as the current market supply is very traditional and fragmented and with growth now flowing into second and third-tier cities demand for industrial space has risen considerably,” said Edgar “Injap” Sia II, chairman of DoubleDragon.
DoubleDragon aims to build up its leasable portfolio to 1.2 million square meters by 2020 comprising 100 CityMalls, 300,000 sqm from Metro Manila office projects DD Meridian Park and Jollibee Tower, 5,000 hotel rooms of Hotel101 and JinJiang Inn Philippines, and another 100,000 sqm from 8 CentralHub sites nationwide.