Injap Sia?s DoubleDragon to build second industrial hub in Iloilo
A subsidiary of DoubleDragon Properties Corp. has acquired a 3.9 hectare property in Iloilo, which will be the site for its second industrial hub.
The purchase is in line with DoubleDragon?s goal to become the leading provider of industrial warehouses in the country. CentralHub Industrial Centers Inc. aims to build eight warehouse facilities by 2020 with 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 distributon centers.
The first site, located in Tarlac, will offer about 54,000 square meters or 5.4 hectares of leasable industrial space once fully developed.
The Iloilo property, on the other hand, is located along Iloilo R3 Road approximately five kilometers from the Iloilo International Airport.
?We believ ethe industrial leasing segment presents significant growth opportunities for Double Dragon 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.
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.? said Edgar ?Injap?Sia II, chairman of DoubleDragon.