Real estate firm bullish with new SLEX

MANILA, Philippines - Commercial activity and rapid real estate development are running close on the heels of the South Luzon Expressway (SLEx) upgrading. Some 7000 hectares are now under development, including a new metropolis within the Laguna-Batangas corridor.

LiMA Technology Center (LTC), a township project astride the boundary of Lipa City and Malvar, is already showcasing the early benefits of public-private-partnership (PPP) in the SLEx road network.

LTC is 7,000 hectares divided into an export processing zone, a general trade zone, residential, commercial and leisure areas. Its large locators are undergoing sizeable widening of their facilities to accommodate expanding operations.

Kahn Sato, vice president for marketing of LiMA Land, said that 30 days after the opening of the SLEx extension to STAR Tollway in Sto. Tomas, Batangas, they have cut travel time from Batangas to Manila by half an hour, and are saving on fuel cost as well.

“It used to take us 90 minutes from Manila to the LiMA Technology Center in Batangas. But with the upgrading of SLEx, this has been reduced to just one hour. Our locators make faster turn-around and, of course, get bigger efficiency in their fuel consumption,” Sato added.

Aside from the obvious savings, improved transport has also reduced the decades-long threat of missed shipping deadlines due to traffic congestion. Part of the risks taken by exporters are paying stiff penalties for delayed deliveries and having to air-freight the cargo at nearly triple the shipping cost.

LTC is home to multinational companies, among them Epson, Yamaha and LittelFuse. About 9,700 workers are employed by firms within LTC.

Still, Sato expects more development within LTC since the SLEx rehabilitation and link to STAR, which was pre-conditions of potential locators, is now fully operational.

He also anticipates a more vigorous tourism industry in Southern Luzon. “Countries like Thailand made tourism a huge source of revenue,” he said, emphasizing that “…one of the keys is those countries developed their infrastructure by building modern airports, ports and roads.”