CentralHub completes Tarlac warehouse expansion

CentralHub Industrial Centers Inc., a joint venture between DoubleDragon Corp. and Jollibee Foods Corp. has now completed the expansion of the 6.2-hectare CentralHub-Tarlac industrial warehouse complex. 

The move is part of CentralHub Industrial Centers Inc.’s plan to build a P24.8 billion leasing portfolio in line with its preparation to become the country’s first industrial REIT IPO in the second half of 2022. 

There are now several hubs under CentralHub — CentralHub-Capiz, CentralHub-Tarlac, CentralHub-Pasig, CentralHub-Laguna1 and CentralHub-Laguna2.

The company will also add CentralHub-Iloilo, CentralHub-Davao, and CentralHub-Cebu. 

CentralHub Industrial to date, has 43.8 hectares of industrial assets, and continues to ramp up construction of its industrial warehouse portfolio after it recently completed its equity joint venture with Jollibee Foods Corp. 

DoubleDragon chairman Edgar “Injap” Sia II said the aim is to establish a strong foothold in this sunrise property sector as the company targets to become one of the largest landlords of industrial warehouse space in the Philippines.

“We are currently ramping up the simultaneous construction of various CentralHub industrial complexes across the country as the demand for modern industrial warehouses continues to grow,” Sia said. 

The pandemic, he said, has pushed the acceleration of the ongoing shift from the old economy to the new economy. This puts property companies in a situation where the composition of the portfolio will matter the most going forward and not its current size.

DoubleDragon’s four core pillars of growth are the portfolio of community centers in the provincial city centers; its pioneering hybrid condotel brand Hotel101; office buildings portfolio namely the 42-storey Jollibee Tower in Ortigas CBD, DD Meridian Park complex at the Bay Area, The Skysuites Corporate Tower in QC, and soon Robinsons DoubleDragon Square Building in Bridgetowne Libis; and its CentralHub chain of industrial warehouse complexes. 

DoubleDragon’s Debt-to-Equity ratio in 2021 improved to 0.55 times, way below its cap of 2.33 times, making it one of the lowest and Debt-to-Equity ratios among listed companies in the Philippines.