LIMA Land Inc., a property development unit of the Aboitiz Group, said Wednesday it will build a seven-tower office complex at the LIMA Estate in Batangas, with the first building set to break ground later this year.
LIMA Land said it would capitalize on the anticipated boom of business process outsourcing companies outside the National Capital region as it continues to transform a 30-hectare commercial area in LIMA Estate as a central business district.
It cited a recent market study by real estate consulting firm PRIME Philippines, which revealed that the BPO sector would likely take up office spaces with expansion investments outside of the congested Metro Manila.
PRIME noted that with the pipeline of infrastructure projects boosting interconnectivity between Metro Manila and neighboring areas, developers were expected to increase their land banks in key provinces, including 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,” said Rafael Fernandez de Mesa, first vice president for Aboitiz Integrated Economic Centers.
The LIMA CBD is LIMA Estate’s 30-hectare commercial area and the first CBD to rise in Batangas. It houses various commercial components such as The Outlets at Lipa, LIMA Exchange, LIMA Park Hotel, and LIMA Transport Hub.
LIMA Land 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 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.
LIMA said that as of June, about 46 percent of the commercial lots within the CBD were sold and investors may start construction by the first quarter of 2022.
LIMA Land is also developing over 100 hectares of the 794-hectare LIMA Estate 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 jobs in Batangas and neighboring areas.
LIMA Estate has 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 minutes from Alabang and 30 minutes from Batangas International Port.
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.
Residential and lodging options are integrated across the estate with LIMA Park Hotel, The Villages at Lipa, and the Campo Verde and SummerHills subdivisions.
LIMA Land is managed by Aboitiz InfraCapital Inc. under the Aboitiz Integrated Economic Centers business unit.