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February 19, 2018
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ILOILO City – The industrial leasing subsidiary of DoubleDragon Properties Corp., CentralHub Industrial Centers Inc., has acquired a 3.9-hectare property strategically located along Iloilo R3 Road approximately 5 km from the Iloilo International Airport and 10 km to the city proper.
The site, along the national highway en route to airport, is the second CentralHub complex in the Philippines following CentralHub-Tarlac which is now under construction.
CentralHub-Tarlac sits on a 6.2-hectare lot with a capacity of 32,000 square meters of leasable space once fully developed. On the other hand, CentralHub-Iloilo will have a capacity of 22,000 square meters of leasable space.
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 in Northern Luzon, two in Southern Luzon, two in the Visayas and two in Mindanao.
The first eight CentralHub sites is targeted to have a total land area of 100 hectares.
Each CentralHub site will contain modern standardized multi-use warehouses suited for commissaries, cold storage, light manufacturing, and logistics distribution centers.
CentralHub intends to have an initial 100,000 square meters of leasable industrial space by 2020.
Currently, the first two sites, CentralHub-Tarlac and CentralHub-Iloilo once fully developed can contribute approximately 54,000 square meters or 5.4 hectares of leasable industrial space.
“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,” said Edgar “Injap” Sia II, chairman of DoubleDragon.
Other than the e-commerce businesses that will soon require facilities such as CentralHub, Sia said, “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 to expand their business to capture the growing consumer base of the Philippines.”
DoubleDragon recently revised its 2020 vision upwards from accumulating one million square meters of leasable space to 1.2 million square meters in line with its goal of having 90 percent of its revenues from diversified recurring revenue sources backed by a string of appreciating hard assets.
The new 2020 vision now includes the additional 100,000 square meters of leasable space from the Industrial Leasing segment through CentralHub and another 100,000 square meters (5,000 rooms) from its Hospitality arm through its rollout of Hotel101 and JinJiang Inn properties nationwide.
This is in addition to the 700,000 square meters of Retail Leasing operations through CityMalls, and 300,000square meters of Office Leasing operations from DD Meridian Park and Jollibee Tower.
This increase in leasable space is expected to enhance the company’s 2020 Net Income target from P4.8 billion to P5.5 billion./PN
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