The Aboitiz InfraCapital Inc. (AIC) announced its plans to invest P7 billion in its fourth economic estate, the 200-hectare TARI Estate, situated in Tarlac City.
“We’ve already started construction. We anticipate finishing in 24 months, but if interest and demand remain high, we may consider speeding up the timeline,” Rafael de Mesa, AIC Economic Estates head, said during a media briefing.
He added that the company recognizes the importance of a complete ecosystem by strategically integrating diverse asset classes like retail, office spaces, residential areas, dormitories, warehouses and even hospitality.
The first phase, which covers 80 hectares, is expected to be completed within the next two years. Meanwhile, the second phase is also beginning its construction with an expected completion by 2026.
According to AIC, the first phase aims to attract both local and international investors which will help boost economic growth and create more job opportunities, generating around 60,000 jobs for Filipinos.
Jolan Formalejo, AIC vice president for Inventory Generation Group, said the estate would target locators from different domestic enterprises, including electronics and export-oriented companies.
TARI Estate will also offer convenience and easy access to seaports and airports near major expressways such as the North Luzon Expressway, Southern Access Link Express Subic-Clark-Tarlac Expressway and Tarlac-Pangasinan-La Union Expressway.
The Tarlac estate is now the fourth economic estate by AIC, joining other major developments in the country. This includes the 900-hectare LIMA Estate in Batangas, the 63-hectare Mactan Economic Zone 2 Estate and the 540-hectare West Cebu Estate in Cebu.
Aboitiz InfraCapital Inc. is the infrastructure arm of the Aboitiz Group, which is currently championing in developing smarter, greener, and more sustainable infrastructure projects across the country.
Founded in 2015, AIC is dedicated to driving economic growth and creating more job opportunities for Filipinos through strategic investments and partnerships, supporting businesses, and providing long-term services and infrastructure projects.