DoubleDragon Properties Corp. has formed a strategic partnership with US-based commodities giant Cargill to develop industrial facilities across the country.
DoubleDragon said in a disclosure to the stock exchange the partnership between Centralhub Industrial Centers Inc. and Cargill’s subsidiary in the Philippines, C-Joy Poultry Meats Production Inc., would boost the company’s goal of becoming the country’s leading provider of industrial complexes.
Cargill is a globally recognized brand and the largest private company in the United States. Cargill worldwide operates across 70 countries as a trusted partner for food, agriculture, financial and industrial customers with a combined 153 years of experience and new technologies and insights.
“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 Sia II.
“Among its peers, DoubleDragon aspires to deliver the highest level of recurring revenue from its string of appreciating prime properties across the diversified sunrise industries of provincial retail, office, hotels and industrial facilities,” he added.
Industrial leasing is one of DoubleDragon’s four pillars of growth, which include provincial retail leasing, office leasing and hospitality.
“We are very optimistic for the growth prospects of CentralHub as we expect the demand for modern industrial complexes to continue to increase significantly as more companies will require modern standardized multi-use warehouses suited for commissaries, cold storage, light manufacturing and logistic distribution centers,” said DoubleDragon chief investment officer Hannah Yulo.
DoubleDragon plans to complete by 2020 a leasable portfolio of 1.2 million square meters comprising of 700,000 sqm 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 square meters of industrial space from CentralHub sites across Luzon, Visayas and Mindanao.