By Beatriz Marie D. Cruz, Reporter
ABOITIZ Infracapital, Inc. (AIC) expects the 13 additional companies currently building facilities in its LIMA Estate in Batangas to create up to 7,000 new jobs, according to a company official.
“Right now, there are about 73,000 jobs, and there are 180 companies [within LIMA Estate], but only 120 of those are operational,” Clifford Academia, vice-president for Luzon operations at AIC, told BusinessWorld last week.
“There are about 13 companies that are under construction and another 30 companies that are currently designing or in the planning stages of their respective facilities,” he added.
The next 13 companies are expected to generate around 5,000 to 7,000 jobs in the estate, according to Mr. Academia.
These companies are in the sectors of plastic molds, automotive parts, metal products, solar panel components, packaging materials, and dental products.
LIMA Estate, an 826-hectare mixed-use development owned by the Aboitiz group, hosts around 4,000 households and is registered under the Philippine Economic Zone Authority.
The property also includes retail stores, restaurants, a four-star hotel, a transportation hub, business process outsourcing (BPO) companies, schools, and dormitories.
Earlier this year, AIC announced a P4-billion investment for a 40-hectare expansion of the business district within LIMA Estate. Once completed, this expansion will extend the hub to approximately 70 hectares.
The full expansion is expected to be completed in 2027, with the first phase finishing by July next year, according to Mr. Academia.
LIMA Estate also features a 9,100-square-meter (sq.m.) outdoor mall, The Outlets at Lipa, which is nearing full occupancy, AIC said.
“We’re reaching already about 95% of signed-up [contracts,] and then, we’re going to end the year with about 85% operating occupancy for the mall,” Mr. Academia said.
“The consumer market has been on the rebound since the beginning of the year, and there’s a lot of interest from the homegrown brands in the mall, particularly the market in Lipa and Batangas,” he added.
LIMA Tower One, a premium office building located inside LIMA Estate, had the second-largest office space take-up nationwide in the third quarter, according to real estate services and investment firm CBRE.
This was driven by BPO company Conduent, Inc., which leased 9,000 sq.m. of office space.