For many years AboitizLand has been a prime mover in Cebu’s real estate market. Now, it is positioning itself for national expansion
When mentioning the brand Aboitiz, different things come to mind for different consumers. For some, it is banking; for others, it is food; and for most, it is power generation. By all accounts, those, and even more than that, are all correct.
With beginnings in the late 1800s as an abaca (Philippine hemp) trading and general merchandise business in Ormoc, Leyte, the company founded by Paulino Aboitiz eventually ventured into inter-island shipping to transport its goods across the Visayas.
In 1920, the Aboitiz Group officially started operating as a conglomerate, and under the reigns of Paulino’s second son, Don Ramon Aboitiz, would expand into a highly diversified group of companies. After enlisting Aboitiz Equity Ventures (AEV) in the Philippine Stock Exchange in 1994, the conglomerate would eventually also establish itself in real estate development.
Designing Distinct Communities
The real estate arm of AEV, AboitizLand started with a focus on Visayas real estate, nurturing Cebu’s residential, industrial, and commercial communities through pioneering concepts and embarking on ambitious developments.
The company’s first real estate project was the Mactan Economic Zone 2, or MEZ2, which was launched in 1995. Developed and operated in partnership with the Mactan Cebu International Airport Authority and the Philippine Economic Zone Authority (PEZA), MEZ2 is a 63-hectare industrial estate in Lapu-Lapu City that serves as the home to almost four dozens multinational companies.
The area has since been established as one of the major landmarks and commercial areas in the province of Cebu, and Aboitiz has since embarked on a bevy of other projects. These include joint ventures with the local government, other private firms, and projects that are solely driven by the Aboitiz vision.
Visayas, Luzon, and Beyond
AboitizLand continues to pursue this vision through several upcoming projects. The developer has sold out the first two towers of the Persimmon Studios in Mabolo, Cebu, and is set to finish a third tower very soon. In partnership with Ayala Land, the company is also developing a 15-hectare mixed-use township in Mandaue City.
Perhaps the most anticipated of AboitizLand’s projects is in the municipality of Compostela. Set in the Cabadiangan area, the development is called Amoa and occupies a total of 50 hectares. The project is to undergo eight phases of development, with a projected 2,000 units of mid-end housing to be finished situated on a property with a myriad of amenities.
While AboitizLand continues to be quite significant in the Visayas, it has long been considering taking its investments and developments on a nationwide scale. The developer took its initial steps toward that goal with the acquisition of a 60 percent stake in Lima Land Inc. from Alsons Land Corp. in 2013. AboitizLand would eventually complete the full acquisition of Lima Land in 2014 by buying the remaining 40 percent from Marubeni Corp.
As Lima Land is the owner and operator of 485-hectare Lima Technology Center, a PEZA-registered industrial park in Lipa, Batangas, its acquisition has allowed AboitizLand to establish an immediate presence in the Luzon area. The company has since announced its intention to beef up its landbank in the region.
It has set aside a 2015 budget of Php3.7 billion, intended for the expansion of the said landbank. Although no properties have been identified or projects specified as of the moment, the budget is indeed a clear indication of AbotizLand’s intention to position itself for growth and establish itself beyond real estate dominance in the Visayas region.
For the past 21 years, AboitizLand has nurtured Cebu’s residential, industrial, and commercial communities with pioneering concepts. The company lives to provide each customer with the ultimate real estate experience.
