Aboitiz-Yuchengco JV gets PCC clearance

MANILA, Philippines — A joint venture between the integrated real estate platform of the Aboitiz Group and the Yuchengco-led House of Investments Inc. (HI) has been given the green light by the Philippine Competition Commission (PCC) to proceed with the planned expansion of the TARI Estate in Tarlac.

The PCC clearance enables the parties to proceed with formalizing and signing the definitive agreements for their joint venture at the TARI Estate.

The 184-hectare property, owned by HI subsidiary Tarlac Terra Ventures Inc., will be developed in partnership with Aboitiz Economic Estates, with HI holding a 51- percent stake and Aboitiz Economic Estates holding 49 percent.

The development will expand TARI Estate to a total of 384 hectares.

HI president and CEO Lorenzo Tan said the joint venture supports the group’s dedication to delivering long-term value through flexible, sustainable and future-proof real estate solutions.

“We value our partnership with the Aboitiz Group in advancing economic development in Central Luzon. As our first major venture into economic estates, we strengthen our position in horizontal property development and broaden our property portfolio,” he said.

The expansion is designed to support light- to medium-scale industries, widening the estate’s industrial base and complementing the operations of anchor locators Coca-Cola Europacific Aboitiz Philippines and Ajinomoto Philippines Corp.

Construction is slated to start this year, spurring increased on-ground activity through 2028.

TARI Estate’s first phase is fully sold out and its locators now in various stages of development, while the second phase is attracting growing interest from both foreign and domestic enterprises seeking to strengthen their supply chains.

Aboitiz Economic Estates and Aboitiz Land president and CEO Rafael Fernandez de Mesa, for his part, said the joint venture is a pivotal step in TARI Estate’s evolution.

“With regulatory approval secured, we are accelerating infrastructure delivery, expanding access and welcoming new locators into a dynamic ecosystem anchored by Coca-Cola Europacific Aboitiz Philippines and Ajinomoto Philippines Corp.,” Fernandez de Mesa said.

“Through Tarlac Terra Ventures, we are creating an environment where industries can scale efficiently, investments translate into real progress, jobs are created and communities benefit from sustainable economic growth,” he said.

Development at TARI Estate is advancing steadily, with the first phase, covering 90 hectares, currently undergoing site development and is expected to be completed in the second half.