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LIMA Land putting up office complex in Batangas

Louella Desiderio (The Philippine Star) - July 15, 2021 - 12:00am

MANILA, Philippines — Aboitiz Group’s LIMA Land Inc. is building a seven-tower office complex in Batangas to take advantage of an expected demand from business process outsourcing (BPO) firms for spaces outside Metro Manila.

In a statement, the Aboitiz Group said the seven-building office complex would be put up within the LIMA Estate’s 30-hectare central business district which currently houses commercial components such as The Outlets at Lipa, LIMA Exchange, LIMA Park Hotel, and LIMA Transport Hub.

The Aboitiz Group said the first tower or LIMA Tower One would break ground later this year.

Asked for the project cost of LIMA Tower One and the complex, the group said this is still being finalized.

“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, first vice president for Aboitiz Integrated Economic Centers, said.

According to a recent market study of real estate consulting firm Prime Philippines, the BPO sector is expected to take up office spaces outside Metro Manila.

In 2019, the Office of the President through Administrative Order 18 imposed a moratorium on declaration of ecozones in Metro Manila to spur development in the countryside. This has forced BPO firms to look at expansion in areas outside of the National Capital Region.

Given infrastructure projects for the interconnectivity of Metro Manila and neighboring areas, Prime said several developers are increasing land banks in key provinces which include Batangas.

Aside from the development of a seven-tower office complex for BPO firms, LIMA Land is also selling four hectares of its commercial lot inventory in the central business district in lot sizes ranging from 1,800 to 5,000 square meters.

The lots are ideal for BPO companies, offices, dormitories, condominiums, schools, hospitals, hotels, civic centers, and other commercial uses.

As of last month, 46 percent of the total commercial lots within the central business district have been sold.

Aboitiz Group said investors may start construction by the first quarter of next year.

To accommodate more industrial locators, LIMA Land is also developing over 100 hectares of its existing 794-hectare property, with completion targeted for the third quarter of next year.

When completed, it is expected to create up to 20,000 new jobs not just in Batangas, but also in neighboring areas.

LIMA Estate is accessible through the South Luzon Expressway and STAR tollways and just an hour and a half away from Makati City central business district and Ninoy Aquino International Airport.

In addition, it has infrastructure services run by Aboitiz Group affiliates such as LIMA Enerzone and LIMA Water.

LIMA Land is managed by Aboitiz InfraCapital Inc. under the Aboitiz Integrated Economic Centers business unit.

ABOITIZ GROUP
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