Aboitiz group to invest P7B in Tarlac estate

PHILSTAR

THE ABOITIZ InfraCapital Inc. (AIC) said it plans to invest P7 billion in its fourth economic estate, the 200-hectare TARI Estate in Tarlac City.

This phase is expected to be completed within the next two years, the company said on Tuesday.

“We’ve already started construction. We anticipate finishing in 24 months, but if interest and demand remain high, we may consider speeding up the timeline,” said AIC Economic Estates Head Rafael F. de Mesa during a media briefing, discussing the TARI Estate’s first phase that covers 80 hectares.

Phase 2 is also under construction, and the company anticipates turnover by 2026.

The initial phase’s prime industrial land is expected to attract both local and international investors, fueling economic expansion and job creation, according to the company.

Around 60,000 jobs are projected to be generated, Mr. De Mesa said.

The estate targets locators from diverse domestic enterprises locators, such as export-oriented companies, and electronics, apart from manufacturing, AIC Vice-President for Inventory Generation Group Jolan Formalejo said.

The vicinity, the company also said, offers accessibility to seaports and airports through expressways like the Subic-Clark-Tarlac Expressway, North Luzon Expressway, Tarlac–Pangasinan–La Union Expressway, and Southern Access Link Expressway.

“We recognize the importance of a complete ecosystem by strategically integrating diverse asset classes like retail, office spaces, residential areas, dormitories, warehouses, and even hospitality,” Mr. De Mesa said.

The latest Tarlac estate joins the 900-hectare LIMA Estate in Lipa-Malvar, Batangas, the 63-hectare Mactan Economic Zone 2 Estate, and the 540-hectare West Cebu Estate in Cebu. — Aubrey Rose A. Inosante