DoubleDragon to build warehousing hub in Iloilo
Property developer DoubleDragon Properties Inc. is set to build an industrial leasing hub in Iloilo, the second in what it plans to be a chain of industrial warehousing hubs across the country under the brand “CentralHub.”
In a press statement on Wednesday, DoubleDragon said its industrial leasing subsidiary Central Hub Industrial Centers Inc. had acquired a 3.9-hectare property along Iloilo’s R3 Road, around five kilometers from the Iloilo International Airport and 10 kilometers from the Iloilo City proper.
“We believe the industrial leasing segment presents significant growth opportunities for DoubleDragon as the current market supply is very traditional and fragmented. As a new player in an already mature real estate industry which has been dominated by large established players for decades, we are focused in segments within the real estate space where we still have an opportunity to organically dominate, such as industrial leasing, provincial community mall leasing and hospitality,” DoubleDragon chair Edgar Sia II said.
“Other than the e-commerce businesses that will soon require facilities such as CentralHub, there are also a lot of synergies within our ecosystem since both our affiliates and the tenants of our CityMalls are the natural users of warehouse facilities as they continue expand their business to capture the growing consumer base of the Philippines.”
Each CentralHub site will contain modern standardized multi-use warehouses suited for commissaries, cold storage, light manufacturing, and logistics distributon centers.
CentralHub intends to have an initial 100,000 square meters of leasable industrial space by 2020.
The first two sites, CentralHub-Tarlac and CentralHub-Iloilo, once fully developed, can contribute around 54,000 square meters of leasable industrial space.
CentralHub-Tarlac sits on a 6.2 hectare lot with a capacity of 32,000 square meters of leasable space once fully developed, while CentralHub-Iloilo will have a capacity of 22,000 square meters.
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