Injap Sia partners with Cargill to build industrial hubs
DoubleDragon Properties Corp. has entered into a partnership with American agribusiness giant Cargill to develop industrial facilities covering about 30 hectares across the country.
“This partnership with Cargill is in line with DoubleDragon’s vision to make CentralHub the leading provider of industrial complexes in the Philippines. These industrial facilities will add a substantial amount of leasable space to our growing leasable portfolio nationwide,” said DoubleDragon chairman Edgar “Injap” Sia II.
DoubleDragon chief investment officer Hannah Yulo is bullish on the growth prospects of CentralHub as demand for modern industrial complexes is expected to continue. More companies will require modern standardized multi-use warehouses suited for commissaries, cold storage, light manufacturing and logistic distribution centers,” she said.
“CentralHub could potentially be the first industrial REIT in the Philippines,” Yulo said.
Industrial leasing is one of DoubleDragon’s four pillars of growth, which also include provincial retail leasing, office leasing and hospitality in line with its vision to be a primarily recurring revenue focused property company.
DoubleDragon aims to have a leasable portfolio of 1.2 million square meters by 2020, comprising of 700,000 square meters from 100 CityMalls, 300,000 sqm from its Metro Manila office projects DD Meridian Park and Jollibee Tower, 100,000 sqm from the planned 5,000 hotel rooms of Hotel101 and Jinjiang Inn Philippines, and another 100,000 sqm of industrial space from CentralHub sites across Luzon, Visayas and Mindanao.