ABOITIZ InfraCapital (AIC), the infrastructure arm of the Aboitiz Group, plans to spend around P4 billion for the 40-hectare expansion of its LIMA Estate’s Biz Hub in Batangas.
“We expected to spend about P4 billion for the expansion of Biz Hub at LIMA Estate. As you saw earlier, we’ve already begun construction,” said Rafael Fernandez de Mesa, president of LIMA Land Inc. and head of Aboitiz InfraCapital Economic Estates.
The development sits within the nearly 1,000-hectare LIMA Estate, which currently hosts 180 locators, 71,000 employees and over 4,000 households.
The expansion will be in four phases. Construction for the first phase started over a month ago and is expected to be completed by 2026.
“We first started with those that are adjacent to the existing 30 hectares so that we can capitalize on the access,” said Jolan Formalejo, vice president for inventory generation at LIMA Land.
Part of the first phase will be the construction of the road network that will determine how the development for the expansion will take place.
“The new interchange that’s currently under construction [by Star Tollways] will provide additional access. We will have six different entry points,” de Mesa said.
For the entire expansion, LIMA will retain some of the lots for its own developments, while other commercial lots will be sold to help accelerate the development.
The expansion will feature 21 commercial lots, ranging in size from 1,100 square meters to 2,300 square meters.
“Our continuous investment in LIMA Estate underscores our confidence in Batangas’ potential as a top-tier investment hub and reaffirms our commitment to supporting the government’s vision of a prosperous, inclusive, and resilient society,” de Mesa said.
Shares of AIC’s parent firm, Aboitiz Equity Ventures, rose by 1.97 percent to P36.95 apiece on Thursday.
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