PCC clears LIMA Land, HI joint venture for Tarlac estate expansion

THE PHILIPPINE Competition Commission (PCC) has approved LIMA Land, Inc. and Yuchengco-led holding company House of Investments, Inc. (HI)’s joint venture to develop a 184-hectare (ha) property within its Tarlac estate.

In a stock exchange disclosure on Wednesday, Aboitiz Equity Ventures, Inc. (AEV) said both firms aim to complete the first phase of the development, covering 90 ha, in the second half of 2026.

The expansion is expected to support light- to medium-scale industries and complements the estate’s existing locators, including Coca-Cola Europacific Aboitiz Philippines and Ajinomoto Philippines Corp.

Construction of subsequent phases will begin this year and is scheduled for completion by 2028, the company said.

“Subsequent phases are progressing in parallel to accelerate the delivery of critical infrastructure and keep the estate aligned with growing investor demand,” AEV said.

The property will feature dedicated satellite offices of the Bureau of Customs and the Philippine Economic Zone Authority, which are expected to be operational by the first quarter of 2027.

AEV said the first phase of TARI Estate is fully sold, with locators in varying stages of development.

HI will hold a 51% stake in the partnership, while AEV will hold 49% as the exclusive provider of project management, estate operations, and general support services.

The development, owned by HI subsidiary Tarlac Terra Ventures, Inc., will expand TARI Estate to 384 ha.

“Through Tarlac Terra Ventures, we are creating an environment where industries can scale efficiently, investments translate into real progress, jobs are created, and communities benefit from sustainable economic growth,” Aboitiz Land, Inc. and Aboitiz Economic Estates President and Chief Executive Officer (CEO) Rafael Fernandez de Mesa said.

LIMA Land is a wholly owned subsidiary of Aboitiz InfraCapital, Inc. (AIC), the infrastructure arm of the Aboitiz group.

HI President and CEO Lorenzo V. Tan said the venture would strengthen its position in horizontal property development and enhance its real estate portfolio.

On the stock exchange on Wednesday, AEV shares fell 1.18% or 40 centavos to close at P33.60 apiece, while HI shares gained 1.22% or six centavos to close at P4.99 each. — Beatriz Marie D. Cruz