Aboitiz-led LIMA Land Inc. is selling some four hectares of land in its 30-hectare development in Batangas and is set to develop a seven-tower office complex in LIMA’s commercial zone.
Aboitiz InfraCapital Inc. said LIMA plans to capitalize on the “anticipated anticipated boom” of business process outsourcing (BPO) companies in Batangas.
“We are excited to get started on our seven-tower office complex, which will further spur much-needed economic activity and employment opportunities in the countryside post-pandemic. We believe that this is a fitting next step in our expansion, as we seek to drive the growth of Batangas through this world-class development,” Rafael Fernandez de Mesa, the company’s first vice president for Aboitiz Integrated Economic Centers, said.
LIMA Tower One is set to break ground later this year. No further details about the project were given.
Aboitiz is transforming the 30-hectare commercial area to become the first central business district (CBD) in Batangas.
It currently houses various commercial components such as Outlets at Lipa, LIMA Exchange, its hotel and transport hub.
LIMA Land has also put up four hectares of commercial lots for sale. Lot sizes range from 1,800 up to 5,000 square meters, ideal for BPO companies, offices, dormitories, condominiums, schools, hospitals, hotels, civic centers and other commercial uses, the company said.
These types of establishments will complement existing commercial components in the zone and the planned office complex, giving investors and developers a unique opportunity to take part in the growth of LIMA, it said.
As of June, 46 percent of the commercial lots within the CBD have been sold and investors may start construction by the first quarter of 2022.
LIMA Land is also developing over 100 hectares of its existing 794-hectare property in the next few months to accommodate more industrial locators. The expansion, which is targeted for completion by the third quarter of 2022, is expected to generate up to 20,000 new jobs in Batangas and neighboring areas.
Aside from the infrastructure around LIMA, the development already has infrastructure services in place run by Aboitiz Group affiliates, such as LIMA Enerzone and LIMA Water. Together with LIMA Land, they are transforming the estate into a next generation development through upgrades to existing facilities and the introduction of smart technologies.
LIMA is also close to 23 universities and colleges within a 10-kilometer radius, including De La Salle Lipa, Batangas State University and University of Batangas. Inside LIMA CBD itself is Edustria Senior High School by the Far Eastern University and the Technological Institute of the Philippines.
LIMA Land is managed by Aboitiz InfraCapital Inc. under its Aboitiz Integrated Economic Centers business unit.