Tycoons eye first industrial REIT IPO 

Bilyonaryo Tony Tan Caktiong and real estate tycoon Edgar “Injap” Sia II are gearing up launch the country’s first industrial real estate investment trust (REIT) initial public offering by the second half, according to a report by Bilyonaryo.com.

CentralHub Industrial Centers Inc., a joint venture between Tan Caktiong-led Jollibee Foods Corp. and Sia’s DoubleDragon Properties Corp., is ramping up the construction of its industrial warehouse portfolio in preparation for its planned IPO.  

The company recently completed CentralHub-Tarlac phase-4, comprising of a 6.2 hectare warehouse complex, adding to its existing hubs in Capiz, Pasig and Laguna.  

New industrial hubs will soon rise in Iloilo, Davao and Cebu, further bumping up CentralHub’s industrial land portfolio of 43.8 hectares.  

“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. We aim to establish a strong foothold in this sunrise property sector as we aim to make DoubleDragon become one of the largest landlords of industrial warehouse space in the Philippines,” said Sia, chairman of DoubleDragon.  

“We believe that with the Covid19 pandemic pushing the acceleration of the ongoing shift from the old economy to the new economy will put property companies in a situation where it is not the current size of the company’s current leasable square meter portfolio that will be important, but the composition of the portfolio that will matter the most going forward,” he added.  

CentralHub is a fully planned industrial warehouse complex that creates the perfect environmentfor industrial operators looking for spaces for use or convert as a:  

• Warehouse  
• Commissary  
• Cold Storage  
• Light Manufacturing  
• Logistics distribution Centers  

The well-ventilated warehouse units have flexible design to meet the unique needs of tenants across different types of industrial sectors. The units could be merged to accommodate different floor area requirements. There is also an option to convert the unit to a two-storey facility because of its over 10 meters of roof height.  

Covering 62,000 square meters of land, CentralHub’s very strategic location makes it accessible as it is just 18kms from the city center. It is built on a progressive area where top locators of the country can be found. It is within the perimeter of the production centers of big companies such as Coca-Cola, SITEL, DuPont, CB&I, DuPont Pioneer Production Plant, Phelps Dodge Phils. Inc., and Sanyo Capacitor Corporation. Employees will find transportation easy as Central Hub is near Luisita Access Road and McArthur Highway.