Injap Sia, Alcantara Group to build industrial hub in Davao
DoubleDragon Properties Corp. has partnered with Alsons Development & Investments Corp. for the construction of an industrtial warehouse in Davao City in line with its goal to hit 1.2 milion square meters of leasable space by 2020.
The project , DoubleDragon’s fourth CentralHub industrial complex and its first in Mindanao, is a 70—30 joint venture in favor of DoubleDragon.
To rise on an 8.2 hectare property along Daang Maharlika Highway, CentralHub-Davao will offer 40,392 sqm of leasable industrial warehouse space.
The Davao warehouse is in addition to the three acquired facilities in Cebu, Iloilo and Tarlac, with a capacity of 121,626 sqm of leasable space.
DoubleDragon aims to to become the leading provider of industrial warehouses in the Philippines through the development of its first eight CentralHub complexes by 2020. When completed, the eight will have a total capacity of up to 400,000 sqm of warehouse leasable space.
Each hub will contain modern standardized multi-use warehouses suited for commissaries, cold storage, light manufacturing and logistic distribution centers.
“DoubleDragon makes sure that it focuses only in ‘sunrise’ sectors within the real estate industry that is expected to remain relevant in at least the next 50 years. The company has been seriously focused on building up its portfolio of prime hard assets that can generate high double digit rental yields and deploy capital only on select prime properties that can appreciate 5 to 10 folds in the next 5 to 10 years,” said Edgar “Injap” Sia II, chairman of DoubleDragon.
The company generates recurring from its portfolio of prime leasable spaces from CityMalls, DD Meridian Park, Jollibee Tower, The SkySuites Corporate Tower commercial area, WH Taft Residences commercial area, The Uptown Place commercial area, Umbria Mall in Laguna and Dragon8 Mall in Divisoria.
“As the government ramps up infrastructure development across the archipelago, the flow of goods will become easier in the Visayas as well as Mindanao regions. Because of this, there has been rising demand for warehouse space for logistics, commissary, cold storage, distribution, manufacturing, consumer-related and e-commerce companies alike,” said DoubleDragon chief investment officer Hannah Yulo.