Aboitiz InfraCapital (AIC), the infrastructure arm of the Aboitiz Group, and House of Investments (HI), the non-bank holding company of the Yuchengco Group of Companies, announced today plans for a strategic partnership to jointly develop an expanded economic estate in Tarlac through Tarlac Terra Ventures, Inc. (TTVI).
Subject to the finalization of the Definitive Agreement and corporate and regulatory approvals, this collaboration will expand AIC's TARI Estate by incorporating HI's 184-hectare adjacent property into the estate's ongoing development, adding mixed-use components that will complement its industrial and business offerings.
The real estate company TTVI, which owns the 184-hectare property, is 100% owned by HI. Under the terms of the agreement, HI will hold a 51% stake, while AIC will maintain 49%. Together, the two companies plan to develop and market the land for various mixed-use purposes, enhancing the overall ecosystem within the expanded TARI Estate.
The project is aligned with AIC's long-term vision of creating an innovative and sustainable community hub in Central Luzon. Through this partnership, AIC and HI are set to boost the regional economy by creating jobs and attracting local and foreign investments, ultimately driving sustainable progress in the locality.
"This will be our first major venture into Economic Estates. We anticipate with pleasure the partnership with AIC, one of the leading industrial estate developers in the country. This joint venture will be an expansion of HI's business interests into land development, diversifying our property portfolio. We aim to provide long-term value through flexible, sustainable, and forward-thinking real estate solutions, with a strong commitment to environmental stewardship," said Lorenzo Tan, President of House of Investments.
AIC's TARI Estate, which broke ground in May 2024, is poised to become a key economic driver in the region. Its initial 200-hectare development is expected to generate 60,000 jobs. Integrating HI's 184-hectare mixed-use property will complement TARI Estate's industrial core, offering a broader range of opportunities for industrial, commercial, and business activities within the estate.
"This partnership builds on the strong momentum we've already achieved, further enhancing investor interest and confidence in TARI Estate. By leveraging our combined expertise, we are well-positioned to deliver a development that not only addresses the needs of businesses and communities but also strengthens the estate's status as a premier destination for investment in Central Luzon," said Rafael Fernandez de Mesa, Aboitiz InfraCapital Head of Economic Estates.
Strategically located in Central Luzon, TARI Estate benefits from the region's robust economic development and growing infrastructure network, making it an ideal location for businesses and residents alike. Through this collaboration, Aboitiz InfraCapital and House of Investments are working together to drive inclusive and sustainable progress in the Philippines, offering a prime location for businesses and a quality living environment for residents.
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