DoubleDragon Properties Corp. expects to close 2021 with a warehouse space portfolio of 1.2 million square meters (sq.m.) a year ahead of its timetable.
This follows after unit CentralHub completed the phase 3 of its CentralHub-Tarlac with an additional 10,646 square meters of leasable space.
“(The) 1.2 million square meters GFA (gross floor area) is equivalent to 120 hectares or 12.9 million square feet of building… this string of hard assets were acquired and constructed mainly in the last 7 years,” the company said.
DoubleDragon said its real estate portfolio will become its “first core pillar” as it works to transform into a holding company “in select relevant industries with high growth potential.”
“We are grateful for the efforts and support of all the stakeholders of DoubleDragon for this milestone, each and every square meter with land acquired and building constructed mainly in the last seven years are solid bricks that now serves as the core foundation of the hard value of DoubleDragon,” said Edgar Sia II, DoubleDragon chairman.
“Given the progress that the DoubleDragon team has made despite all the challenges that came its way being a new player in a highly competitive, prohibitive and mature industry, we expect to work towards reaching DoubleDragon’s principal strategic goal of P120 billion in total equity by 2030, coming from its current total equity of P59.23 billion as of March 31, 2021,” he added.
