Cargill Subsidiary and Filipino Realtor Ramp Up Development of Industrial Complexes
The Philippine subsidiary of multinational firm Cargill, Cargill Joy Poultry Meats Production (or C-Joy), has partenered with Filipino company CentralHub Industrial Centers to develop industrial facilities across the country.
CentralHub Industrial Centers is the industrial leasing unit of Philippine real estate development company, DoubleDragon Properties Corp. This team up with C-Joy is in line with the company's goal of becoming the country's leading supplier of industrial complexes, targeting eight projects with a total 100,000 square meters of leasable industrial spaces by 2020.
“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 is one of the top property developer in the country that has identified industrial leasing as another growth area. The surge of the retail sector, particularly, e-commerce, and demands from the industrial sector such as electronics, automotive, and chemicals and pharmaceuticals, are the top contributors for the expected sustained growth of the logistics and warehouse sector in the Philippines in the medium-term.
(Sources: Manila Standard; Business World; Philippine Star; Press Reader)