AboitizLand sees robust demand for industrial lots
AboitizLand, Inc. expects more robust demand for industrial spaces as it looks for more land acquisition opportunities throughout the country.
In a media briefing, AboitizLand First Vice President of Operations Rafael Fernandez de Mesa said the company’s industrial parks in Cebu were near full capacity and plans were underway to expand its Lima Technology Center in Batangas.
The company is the developer and operator of Mactan Economic Zone II in Lapu-Lapu City and West Cebu Industrial Park in Balamban, both in Cebu.
It acquired Lima Land in 2014 and now owns and operates the technology park in Lipa City, Batangas. “We are also looking for opportunities for new park, probably looking north of Manila,” de Mesa told reporters.
He said despite the concerns expressed by companies because of the uncertainties in the fiscal incentive policies under the second package of the tax reform program, AboitizLand continues to receive demand and inquiries for industrial spaces where investors can locate their manufacturing operations.
“We haven’t seen (a) downturn in demand, even in inquiries. In our parks, we haven’t gone any indications (of locators leaving the economic zone),” de Mesa said.
He added that locators come to the country’s industrial zones for long-term investments.
Moreover, de Mesa said AboitizLand is also optimistic about its residential business unit.
This year, AboitizLand is launching four residential projects. “We’re looking to scale up our residential business,” he said. “We are continuously looking at acquiring more lands in Luzon and Mindanao.”
The bulk of its land bank is in Cebu with some 500 hectares up for development, the AboitizLand executive said. “We expect residential units to begin to contribute more, so we acquire new land and launch new residential projects. We expect at some point that it will overtake the industrial business,” de Mesa noted.
AboitizLand also has a commercial business unit as it opens The Outlets in Lipa City in Batangas. (PNA)