Aboitiz InfraCapital, House of Investments eye TARI Estate expansion

LOOK: Yuchengco Group’s non-bank holding company House of Investments, Inc. (HI) and Aboitiz InfraCapital, Inc., the infrastructure arm of the Aboitiz Group, will be incorporating HI’s 184-hectare property as part of AIC’s expanded TARI Estate in Tarlac, adding mixed-use components that will complement TARI Estate’s industrial and business offerings. Leading the signing were Lorenzo V. Tan, HI President & CEO and Cosette V. Canilao, AIC President & CEO. They were joined by Gema O. Cheng, House of Investments EVP-COO, CFO, & Treasurer and Rafael Fernandez de Mesa, LIMA Land, Inc. President & Aboitiz InfraCapital Economic Estates Head. | Photo courtesy of Aboitiz

Published on:

10 Oct 2024, 08:46

Aboitiz InfraCapital (AIC) and House of Investments (HI) have announced plans to jointly develop an expanded Economic Estate in Tarlac through Tarlac Terra Ventures, Inc. (TTVI).

Subject to finalization of the Definitive Agreement and corporate and regulatory approvals, this partnership will expand AIC’s TARI Estate by incorporating HI’s 184-hectare adjacent property into the estate’s ongoing development.

The mixed-use components of HI’s property will complement TARI Estate’s industrial and business offerings.

Real estate company TTVI, owner of the 184-hectare property, is 100 percent owned by HI. Under the agreement, HI will hold a 51 percent stake, while AIC will maintain 49 percent. 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 aligns with AIC’s long-term vision of creating a smart 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," said Lorenzo Tan, president of House of Investments. "We anticipate with pleasure the partnership with AIC, one of the leading industrial estate developers in the country."

AIC’s TARI Estate, which broke ground in May 2024, is poised to become a key economic driver in the region, with its initial 200-hectare development expected to generate 60,000 jobs.

The integration of 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," 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.

Aboitiz