JOLLIBEE Invests in INDUSTRIAL REAL ESTATE; Begins Employee COVID VACCINATION

In case one needs to be reminded, Jollibee Foods Corporation (JFC) is the biggest fast-food company in the Philippines, one of the biggest in Asia, and is bravely spreading across the whole world with the Filipino diaspora. With a wide variety of constituent franchises aside from its main Jollibee fast food chain, JFC has an industrial pull that is second to none. Even with the COVID pandemic they push through with development. In fact, Jollibee Foods is facing this over-a-year-old crisis on two fronts. First, they are taking steps into real estate investment. Second, they are vaccinating their own people.

The Manila Bulletin has it that Jollibee Foods Corporation has commenced with both an investment with an industrial property developer at the same time with its in-house COVID-19 vaccination program. For the first, it was revealed in a disclosure to the Philippine Stock Exchange (PSE) that JFC has infused 16.4 hectares of land, worth P3.97 billion total, into developer CentraHub Industrial Centers Incorporated. The land being infused with CentralHub is being used by the Pinoy fast-food giant for its various restaurant franchises. In return, Jollibee Foods will gain common shares of CentralHub in accordance with a Binding Agreement they signed.

CentralHub oversees a portfolio of industrial warehouse complexes, which would complement JFC since they would utilize warehouses, cold storage facilities and distribution centers for their foodstuffs going to their many franchisee outlets. The infusion from Jollibee will bolster CentralHub towards its goal to be the first industrial real estate investment trust listed with the PSE.

As all this is going on, Jollibee has also kick-started its anti-COVID vaccination drive, called “#JabforJoy!” Free COVID-19 vaccines provided to JFC by the government, were then administered to company employees at Xavier School, San Juan City. Staff and personnel from Jollibee, Chowking, Greenwich, Mang Inasal, Red Ribbon, as well as Burger King and PHO24, where given their shots, particularly employees classified in the A2 (seniors) and A3 (comorbidities) priority categories. The vaccination is also being extended to employee dependents and household members, supplies allowing.

“We believe that getting vaccinated is a very big step towards a better, safer new normal for our employees and our customers,” notes JFC President Tony Tan Caktiong. “In providing free vaccination to all our employees, the Jollibee Group fully supports and is one with the country’s efforts to address the pandemic.” Jollibee is partnered with Unilab in the organization of its in-house vaccination drive.

Image courtesy of GMA News

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