Aboitiz to Transform Tarlac into an Economic Powerhouse
Aboitiz Infracapital, Inc. (AIC) is gearing up to commence construction on its fourth economic estate in Tarlac City in the first half of the upcoming year, according to Rafael Fernandez de Mesa, the head of AIC Economic Estates.
The new estate, spanning 200 hectares, is part of AIC’s ongoing efforts to capitalize on the robust market interest.
The property, currently owned by Luisita Land Corp., a subsidiary of Central Azucarera de Tarlac, Inc., is set to be sold to Lima Land, Inc.
The sale, expected to be finalized in the coming months, will contribute to the liquidation of Luisita Land’s long-term debt, estimated at P1.65 billion.
AIC’s new estate aims to attract a plethora of manufacturing companies, particularly those in the electronics and automotive industries, as well as local manufacturers seeking a secure industrial development with reliable utilities and facilities to attract and retain talent.
With successful economic estates in Batangas, Mactan Cebu International Airport, and Balamban, AIC is optimistic about replicating its success in Central Luzon, bolstered by its existing relationships with approximately 220 companies already situated in its estates.