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Aboitiz Equity Ventures Inc.

07/14/2021 | Press release | Distributed by Public on 07/14/2021 22:31

Transformation of Batangas’ first masterplanned Central Business District continues

Transformation of Batangas' first masterplanned Central Business District continues

14 Jul 2021

Seven-tower office complex soon to rise in LIMA's 30-hectare commercial zone

Aboitiz-owned LIMA Land, Inc. is capitalizing on the anticipated boom of business process outsourcing (BPO) companies outside the National Capital region as it continues to transform LIMA Estate's Central Business District (CBD) in Batangas.

A recent market study by real estate consulting firm PRIME Philippines revealed that the BPO sector would likely take up office spaces with expansion investments outside of the already congested Metro Manila. PRIME also noted that with the current pipeline of infrastructure projects boosting interconnectivity between Metro Manila and neighboring areas, they are seeing more developers increasing their land banks in key provinces, including Batangas.

Leveraging on this demand, LIMA is set to build a seven-tower office complex to be located at the heart of LIMA's commercial zone, with the first tower LIMA Tower One, set to break ground later this year.

'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,' said Rafael Fernandez de Mesa, First Vice President for Aboitiz Integrated Economic Centers.

LIMA CBD is LIMA Estate's 30-hectare commercial area and the first CBD to rise in the province of Batangas. It currently houses various commercial components such as The Outlets at Lipa, LIMA Exchange, LIMA Park Hotel, and LIMA Transport Hub.

LIMA Land has put four hectares of commercial lot inventory up for grabs. 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. 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.

As of June 2021, 46% of the total 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.

LIMA Estate is highly accessible with direct access to freeways, South Luzon Expressway and STAR tollways. It is an hour and a half away from Makati CBD and Ninoy Aquino International Airport, 40 mins. from Alabang, and only 30 minutes away from Batangas International Port.

Aside from the infrastructure around LIMA, the development already has world-class 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.

Residential and lodging options are integrated across the estate with LIMA Park Hotel, The Villages at Lipa, and the Campo Verde and Summer Hills subdivisions. LIMA also boasts of its proximity to 23 universities and colleges within a 10-km radius, including De La Salle Lipa, Batangas State University, and University of Batangas. Meanwhile, inside LIMA CBD itself is Edustria Senior High School by the Far Eastern University and the Technological Institute of the Philippines.

The Estate also has wide open spaces, greenery, and a safe environment that is conducive to doing business amid the pandemic and under the new normal.

LIMA Land is managed by Aboitiz InfraCapital, Inc. under its Aboitiz Integrated Economic Centers business unit. Aboitiz is the leading fully integrated economic center developer with a proven track record of over 25 years. Its other estates include the Mactan Economic Zone II in Lapu-Lapu City, Cebu and West Cebu Industrial Park in Balamban, Cebu.