DoubleDragon to build third industrial hub in Cebu
Injap Sia-led DoubleDragon Properties Corp. acquired a property in Danao, Cebu which will serve as the third site for its CentralHub industrial warehouse.
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.
DoubleDragon subsidiary Central Hub Industrial Centers Inc. has already acquired a total of 15.3 hectares of prime industrial land with a total capacity of 81,219 sqm 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.
“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.
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.
The 8 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.
DoubleDragon aims to have at least 100,000 sqm 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.