DoubleDragon Properties Corp. on Tuesday said it has started construction for its second industrial leasing hub in Iloilo.
The listed property developer’s unit, CentralHub Industrial Centers, Inc., broke ground for the 3.9-hectare property in Iloilo yesterday. The site will house modern, standardized, multi-use warehouses for commissaries, cold storage, light manufacturing, and logistics distribution centers.
This will be the second CentralHub complex under DoubleDragon’s portfolio. Its first industrial leasing project is CentralHub-Tarlac, which it looks to turn over to tenants by July.
“We believe that the industrial leasing segment presents significant growth opportunities for DoubleDragon as the current market supply is very traditional and fragmented and with growth now flowing into second and third-tier cities demand for industrial space has risen considerably,” DoubleDragon Chairman Edgar J. Sia II said in a statement. — Arra B. Francia