Aboitiz Groups and Yuchengco Groups have partnered to double the size of an industrial estate in Tarlac.
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, yesterday bared plans for a strategic partnership for the joint development of 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 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.
“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. We aim to provide long term value through flexible, sustainable, and forward-thinking real estate solutions,” said Lorenzo Tan, president of HI.
AIC’s TARI Estate, which broke ground in May, 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.
