Aboitiz Group expandingLIMA Estate by 500 hectares
The Aboitiz Group’s industrial and commercial real estate arm is expanding the LIMA Estate in Batangas by adding 500 hectares to cater to growing demand.
The Aboitiz Group, a major Filipino conglomerate, is expanding its industrial and commercial real estate arm's LIMA Estate in Batangas by adding 500 hectares. The expansion aims to accommodate the growing demand for industrial spaces and create more jobs. Currently, LIMA Estate spans 1,100 hectares and houses 200 global manufacturers, employing 75,000 people.
Rafael Fernandez de Mesa, president and CEO of Aboitiz Economic Estates, stated that the additional 500 hectares will significantly boost the economic impact not just for Batangas but for Southern Luzon and the entire country. The expansion includes seven office towers, with Tower 2 expected to commence construction mid-next year once Tower 1 reaches an 80 to 85 percent occupancy rate.
Aboitiz Economic Estates has also invested heavily in the Tarlac Estate, where global manufacturers such as Coca-Cola Europacific and Ajinomoto Philippines Corp. are already setting up facilities. The company anticipates that the Pax Silica artificial intelligence industrial hub and the Luzon Economic Corridor initiatives will further benefit developers like Aboitiz Economic Estates, which possess available properties ready to host investors.
De Mesa emphasized that stringent standards for locators, given the high standards set by global investors, is crucial to maintaining the highest levels of environmental and economic responsibility.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
