The Aboitiz Group through LIMA Land Inc. is set to begin the development of a seven-tower office complex within the LIMA Estate in Batangas as it banks on an anticipated business process outsourcing (BPO) boom outside the National Capital Region (NCR).
The group said in a statement, the seven-tower office complex would be located within the LIMA Estate’s 30-hectare commercial area, with the first tower LIMA Tower One to break ground later this year.
Through the project, the group wants to leverage on an expected demand for office spaces from the BPO sector.
A recent study of real estate consulting firm PRIME Philippines showed the BPO sector is expected to take up office spaces outside Metro Manila.
A moratorium on the declaration of economic zones in Metro Manila under Administrative Order 18 issued by the Office of the President in 2019 has forced BPO firms to look for locations outside the NCR for expansion.
Given the current pipeline of infrastructure projects boosting interconnectivity between Metro Manila and neighboring areas, PRIME said many developers are increasing their land banks in key provinces including Batangas.
“We are excited to get started on our seven-tower office complex, which will further spur much-needed economic activity and employment opportunities in the countryside post-pandemic. We believe that this is a fitting next step in our expansion, as we seek to drive the growth of Batangas through this world-class development,” Aboitiz Integrated Economic Centers first vice president Rafael Fernandez de Mesa said.
LIMA Estate, a 794-hectare development registered with the Philippine Economic Zone Authority, hosts 130 locators and their 60,000 employees.
Its commercial area, which is the first central business district to rise in the province of Batangas, currently houses various commercial components such as The Outlets at Lipa, LIMA Exchange, LIMA Park Hotel, and LIMA Transport Hub.
LIMA Land is managed by Aboitiz InfraCapital Inc. under its Aboitiz Integrated Economic Centers business unit.