DOUBLEDRAGON’S CentralHub held a groundbreaking for its 10.06-hectare prime CentralHub-Negros industrial warehouse complex project in Negros Occidental on Friday, Aug. 11.
Phase 1 of CentralHub-Negros is expected to be completed in 2024 and Phase 2 in 2025.
The 10.06-hectare land of CentralHub is located on J. Apitong Ledesma Street in Silay City, Negros Occidental. It is a five-minute drive to the Bacolod-Silay International Airport and a 25-minute drive to Bacolod City proper and Bredco Port.
CentralHub-Negros will add about 74,000 square meters of industrial warehouse leasable space to DoubleDragon’s total leasable portfolio.
DoubleDragon’s CentralHub also recently fully leased out its CentralHub-Cebu Danao project covering 44,601 square meters of industrial warehouse complex in its property located in Danao, Cebu translating to a recurring rental income of P15.98 billion for CentralHub over the lease term of CentralHub-Cebu.
CentralHub has already built six industrial warehouse complexes, and is simultaneously on various stages of development in various provinces in the country. CentralHub-Capiz recently commenced construction of its Phase 3 due to fully leased out Phase 1 and Phase 2.
Current tenants of CentralHub are logistics companies, FMCG (fast moving consumer goods) companies, trading companies, distribution companies as well as the Jollibee Group.
The largest commissary and distribution center of Jollibee, located in Laguna, where majority of the burger patties and other supplies come from, now forms part of the CentralHub portfolio.
CentralHub has currently grown its portfolio to 605,732 square meters of industrial assets, and continues to build out its P24.8 billion industrial leasing portfolio as it prepares to become the first Philippine Industrial REIT IPO and aims to file as soon as the REIT capitalization rates go back to 5 percent to 6 percent levels.
DoubleDragon aims to soon make CentralHub one of the largest landlords of industrial warehouse complexes in Luzon, Visayas and Mindanao. CentralHub’s network of industrial warehouse complexes is suited for use as a warehouse, commissary, cold storage facility, and logistics distribution center.
DoubleDragon’s long-term vision for the footprint of CentralHub warehouse complexes is to operate one complex in each of the 82 provinces in Luzon, Visayas and Mindanao. DoubleDragon sees the industrial warehouse network to play a vital role in the forward development of the Philippines through improved logistical efficiency and it sees this countryside expansion to make lasting positive contribution in our collective efforts to nation building./PN
