DoubleDragon unveils new logistics hub in Capiz
MANILA, Philippines — Property developer DoubleDragon Properties Corp. has completed a 4.2-hectare industrial warehouse complex in Capiz, the fifth in its chain of logistics hubs under the homegrown brand “CentralHub.”
CentralHub Capiz – which is located along the Roxas-Ivisan Bypass Road or 11 kilometers from Culasi Port, Roxas City and eight kilometers from the Roxas City Airport – is now 100 percent leased to tenants such as the area distributors of consumer firms Prifood and Nestlé, the company disclosed to the Philippine Stock Exchange on Wednesday.
The four other similar logistics hubs earlier developed by DoubleDragon are CentralHub-Davao, CentralHub-Danao (Cebu), CentralHub-Iloilo, and CentralHub-Tarlac.
To date, 27.5 hectares of prime industrial land have been acquired for CentralHubs, translating to 126,033 square meters of leasable industrial warehouse space.
Each hub contains modern standardized multi-use warehouses, which are expected to fulfill the requirements of the top fast-moving consumer goods (FMCG) companies, retailers, fast food brands, cold storage providers, logistics operators, and e-commerce companies.
CentralHub is envisioned to become the leading provider of industrial warehouses in the Philippines through the development of its first eight CentralHub complexes by 2020.
“For CityMall, the locations of our current string of prime commercial properties across the provincial cities nationwide are already a very solid barrier to entry for that business. On the other hand, for CentralHub, the barrier to entry will be the strong ecosystem of tenants that CentralHub will host, being one of the first movers in the modern industrial warehouse leasing segment. It is this ecosystem and our network of CentralHubs nationwide which we believe will enable CentralHub to dominate the industrial warehouse leasing segment in the Philippines in the years to come,” said DoubleDragon chair Edgar Sia II.
“There are several catalysts that account for the strong demand for CentralHub industrial space, the major being: (1) the urbanization of what were traditionally industrial areas, which has resulted in the displacement of existing industrial locators; (2) the strong growth of consumer-related companies both in existing and new areas they are expanding to and; lastly, (3) the fresh demand from rapidly growing e-commerce companies that are taking over new market share,” said DoubleDragon chief investment officer Hannah Yulo. /kga
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