In a message to stockholders, Abacore president Regina O. Reyes said the company remains optimistic about its long-term growth given its substantial land holdings,which are next to commercial, residential and industrial areas which have gained in value.
“Unlike Metro Manila, values in Batangas remain stable and provide great value for those looking for capital gain,” Reyes said, adding that the company’s commercial properties in West Batangas have increased in zonal value by more than 1,000% from 2 years ago.
Despite the surge in land values, she said prices are still a bargain compared to the cheapest commercial properties in Metro Manila.
Reyes said the company’s flagship Montemaria Mother of All Asia Tower of Peace property in Batangas commands good value for investment due to its potential for tourism and industrial growth.
“We have seen the trend of logistics and international port container yards being built next to our properties. This has made our properties near or fronting the beach dramatically increase in value and we believe this growth to sustain in the coming years as the province and national government start building their major infrastructure,” Reyes said.
Abacore will continue to sell its land assets and reinvest a portion of the cash from the
sale of land in joint ventures with recurring revenue.
The company, however, remains on the lookout for properties in Batangas, which it sees as as the next Metro Manila due to the presence of high end residences, commercial businesses, educational institutions and industrial growth.