Doubledragon signs 50-year lease for build-to-suit industrial facility in Danao, Cebu

DOUBLEDRAGON Corp. on Monday, Nov. 14, 2022, announced that its CentralHub has signed a 50 -year lease contract covering a 44,101 square meters build-to-suit industrial facility in its property located in Danao, Cebu that would generate recurring rental income of P15.92 billion for CentralHub over the lease term.

The company on Tuesday, Nov. 15, reported an increase in consolidated core net income of 120.6 percent to P2.22 billion for the nine months ending Sept. 30, 2022. The company’s nine-month net income consists purely of core recurring net income as there was P2.79 billion tax benefit related to one-off adjustments because of the implementation of the Create law booked in the same period in 2021 last year as well as other one-off tax adjustments.

Consolidated core revenues were up 23 percent to P5.66 billion for the nine months ending Sept. 30 as compared to the same period the prior year mainly as the result of real estate sales doubling from the sale of Hotel101-Davao and Hotel101-Cebu Mactan Airport. (PR)