ABOITIZLand, Inc. is boosting its industrial estate business in Luzon as it continues to look for strategic areas in which to expand.
“We are expanding LiMa [Technology Center]. And we’re now looking for another area to grow,” AboitizLand President and Chief Executive Officer Andoni Aboitiz told reporters following an event organized by parent firm Aboitiz Equity Ventures, Inc. (AEV last week.
LiMa Technology Center is situated in a 469-hectare economic zone registered with the Philippine Economic Zone Authority (PEZA) in the Lipa-Malvar area in Batangas. It is one of three industrial parks under the Aboitiz brand.
Asked whether the company is considering putting up industrial parks in the south, Aboitiz said: “Cebu is quite difficult. It’s very, very difficult to put together 500-600 hectares. Cebu Island really has very small parcels. So we’re looking at Luzon. I think Luzon is where we would want to concentrate.”
An industrial estate is an area usually located at the outskirts of a town or city and is designed for factories and manufacturing businesses.
“We’ve looked at Clark but Clark is pretty much the original Clark. It’s pretty much sold out and committed to. We know that … BCDA [Bases Conversion Development Authority] is selling Clark Green City but that’s very little flat land. It’s mostly mountainous land,” the official said.
On the residential side, AboitizLand said it is set to fork out “several billions” of pesos next year for the construction of five residential projects across the country.
“The next wave of launches will be next year,” Aboitiz said. “Probably about five launches. One in Cebu, probably the rest in Luzon,” he added.
“We’re gonna focus on acquisition of land, probably in the second-home market. And then we will roll out the residential launches that we’re preparing for.”
AboitizLand is the property unit of holding firm AEV under business magnate Erramon Aboitiz.