CEBU, Philippines — The real estate development arm of Aboitiz Equity Ventures (AEV), Aboitiz Land, Inc., is banking on market resiliency to bring in sustainable demand amid economic challenges.
In a report to its stockholders, Aboitiz Land expressed optimism of the country’s real estate industry as it continues to prepare for an expected upswing in commercial real estate demand with its continuous planning of integrated townships such as LIMA Estate in Lipa City, Batangas, where it plans to develop commercial buildings and sell commercial lots in its upcoming business district.
AboitizLand’s industrial business unit also expects fresh demand for new distribution centers and warehouse-type logistics facilities, especially as e-commerce booms.
Aside from the said opportunity in the logistics space, there is an emerging demand related to manufacturing companies planning to exit China.
Expansion plans to create additional inventory are underway for LIMA Technology Center in Batangas, and West Cebu Industrial Park in Cebu, to take advantage of this demand.
Likewise, the Aboitiz Group’s privately-held construction arm Aboitiz Construction, Inc. continues to operate and work on its projects in Balamban, Cebu, and Mindanao, albeit with stricter precautions.
The company hopes to immediately resume work on all its first and second quarter projects in ECQ-affected areas.
This is in line with the Aboitiz Group’s goal of keeping the economy stimulated with the immediate implementation of the government’s infrastructure program, especially projects of national significance.