Tarlac estate dev’t has Aboitiz, HI as partners

In an agreement signed last 9 October 2024, the 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 are Lorenzo V. Tan, HI president and CEO (second from left) and Cosette Canilao, AIC president and CEO (third from left). They were joined by Gema Cheng, HI EVP-COO, CFO and treasurer (leftmost) and Rafael Fernandez de Mesa, LIMA Land Inc. president and Aboitiz InfraCapital Economic Estates head. Photograph courtesy of HI

Published on:

10 Oct 2024, 16:20

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, have announced plans for a strategic partnership in the joint development of 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.

Real estate company TTVI, owner of the 184-hectare property, is 100 percent owned by HI. Under the terms of 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.

Long-term vision

The project is aligned 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. 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.”

TARI Estate