DoubleDragon’s Centralhub-Negros breaks ground

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DoubleDragon’s  CentralHub  led the  groundbreaking ceremony for its 10.06-hectare prime CentralHub-Negros industrial warehouse complex project in the province of Negros Occidental last August 11, 2023.

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 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 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 Mindanao.