AboitizLand invests P3B for industrial park project

CEBU, Philippines - With its vision to go on national scale, homegrown developer AboitizLand, Inc. will be pouring an initial investment of P3 billion to develop a commercial property it has recently acquired in an industrial park in Batangas City.

This was announced by AboitizLand president and chief executive officer AndoniAboitiz during the company's 20th anniversary celebration last Wednesday.

He said that the company has successfully masterplannedaround 20 property developments in Cebu and will expand its presence across the country.

Aboitiz said that AboitizLand fully acquired 100 percent share of Lima Land, Inc. which operates the Lima Technology Center in Malvar, Batangas. The 450-hectare industrial park engaged into light industries is currently operational.

He added that the development will kick off in the middle of this year. They set to complete the project in a year and a half.

Aboitiz said that they will replicate the two successful industrial projects in Cebu in other areas in the country and they aim to establish foothold in Luzon through the pilot industrial project, acknowledging the region as the largest market in the Philippines.

He added that they will continue to seek for more properties all over the national landscape that could be developed for industrial purposes.

However, Aboitiz clarified that AboitizLand will continue to introduce new projects and in Cebu.

"Cebu will always be on the move. We are looking at new components in the local real estate market, something new and exciting that would complement our residential, industrial and commercial projects. We are reinventing our products to reach our growth targets," he said.

He said that AboitizLand has allotted P4 billion for this year's capital expenditure.

Last January, officials of AboitizLand and Ayala Land Inc. (ALI) signed a joint venture agreement to solidify their partnership in developing more properties in Cebu.

The tie up is set to develop and operate a 15-hectare city center in Barangay Subangdaku, Mandaue City. The mixed-used development is targeted to be launched in 2015.

Aboitiz said that it will house residential units and commercial spaces with retail and office components. 

"We will spend most of 2014 planning the project and will officially introduce it next year. This will be really an important addition to the real estate industry in Cebu," he said.

Although the company did not win the bid for the Mactan Cebu International Airport expansion project, he said that they are still eyeing other projects under the Private Public Partnership (PPP) scheme.

He also said that they are planning to expand their presence in Mindanao particularly eyeing Davao City. Aboitiz, however, did not disclose further details if they shall start with an industrial development or a commercial project since they have to lay out the plans yet.

"The past has been quite an adventure. The best is yet to come," he stated.

For 20 years in the industry, the giant real estate developer takes pride of its diverse portfolio of integrated residential communities, commercial pockets and industrial zones.

These include North Town Homes, Mactan Economic Zone II (MEZ II), Pueblo Verde, North Town Residences, North Town Woods, Garden Ridge Village, Mahogany Grove, Briza, Molave Highlands, Pristina North, Kishanta, The Persimmon, Ajoya, The Persimmon Plus, Pristina North Residences, The Persimmon Studios, Priveya Hills, Almiya and The Outlets.

The company was launched in June 1994 as ACOLand, a division of Metaphil, one of the biggest industrial contractors in the Philippines.In 2000, ACOLand became AboitizLand. (FREEMAN)