NextGen Day

Rafael Fernandez de Mesa, CEO of Aboitiz InfraCapital (AIC), is hopeful about the expansion bid for the company’s 1,000-hectare LIMA Estate in Lipa City and Malvar town, both in the province of Batangas, due to expectations for ongoing economic growth.

De Mesa stated that the property is now being expanded by 150 hectares to make room for more space for industrial structures during a briefing on Thursday.

In addition, he added, “we’ll be able to bring in another 450 hectares of inventory over the next five to ten years, depending on how much interest there is.

Commercial, industrial, and residential facilities are available in the LIMA Estate.

One of the seven towers planned for the property’s commercial district, Tower One, with an 11-story height, is now under construction and is expected to be completed by February 2024.

According to De Mesa, the building is mainly intended to meet the office space needs of the business process outsourcing (BPO) industry.

With 32 office spaces from the fourth to the eleventh floors and eight retail spaces on the ground floor, Tower One is expected to have a leasable area of about 34,000 square meters.

According to De Mesa, they have begun selling commercial spaces, with the first phase having already been rented out.

He claimed that since it was introduced last year, the sale of the second and third stages of the commercial area has generated significant interest.

A dormitory for the workers in the industrial region is also being built by the corporation in addition to the mid-and high-range residential properties already available in the LIMA States.

As we develop our properties, “We anticipate continuing to add all these complementing component(s),” he continued.

LIMA Estate is a registered economic zone of the Philippine Economic Zone Authority (PEZA).

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