Today August 11, 2023, DoubleDragon’s CentralHub has conducted ground breaking ceremony on its 10.06-hectare prime CentralHub-Negros industrial warehouse complex project in the province of Negros Occidental.
The Phase1 of CentralHub-Negros is expected to be completed in 2024 and the Phase2 in 2025. The 10.06-hectare land of CentralHub is located in J.Apitong Ledesma Street, Silay, Negros Occidental, and is about 5 minutes drive to the Silay Negros International Airport and about 25 minutes drive to Bacolod City proper and Bradco Bacolod Port. CentralHub-Negros will add about 74,000 square meters of industrial warehouse leasable space to DoubleDragon’s total leasable portfolio.
DoubleDragon’s CentralHub has also recently fully leased out its CentralHub-Cebu Danao project covering a 44,601sqm of industrial warehouse complex in its property located in Danao Cebu translating to a recurring rental income of ₱15.98 billion pesos for CentralHub over the lease term of CentralHub-Cebu.
CentralHub currently has already built 6 industrial warehouse complexes, and is simultaneously on various stages of development in various provinces in the country. CentralHub-Capiz recently commenced construction of its Phase3 due to fully leased out Phase1 and Phase2. 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 ₱24.8 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% to 6% 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 are suited for use as a warehouse, commissary, cold storage facility, and logistics distribution center.
DoubleDragon’s longterm vision for the footprint of CentralHub warehouse complexes to operate one complex in each of the 82 provinces in Luzon, Visayas and Mindano, as DoubleDragon sees the industrial warehouse network to play a vital role in the forward development of the Philippines through improved logistical efficiency and DoubleDragon sees this countryside expansion to make lasting positive contribution in our collective efforts to Nation-Building
