THE expansion of Aboitiz’s West Cebu Estate in the town of Balamban is projected to double the current working population from 14,000 to 28,000 once the expansion is fully sold and built, a top official of the Aboitiz InfraCapital Inc.
The West Cebu Estate houses the West Cebu Industrial Park (WCIP) that is operated and developed by Cebu Industrial Park Developers Inc. (CIPDI), a joint venture project of AboitizLand and Tsuneishi Holdings of Japan.
“The development of a 39-hectare industrial expansion in West Cebu Estate will bring an additional P2.5 billion inventory and will increase West Cebu Estate’s working population to 28,000,” said Rafael Ferdandez de Mesa, president of Lima Land and head of Aboitiz Economic Estate of Aboitiz InfraCapital Inc., in a virtual media briefing Friday, Nov. 26, 2021.
De Mesa said the West Cebu Estate is now in the bidding and awarding stage. The firm is also finalizing the capital expenditure involved in the expansion plan.
The construction will begin in January 2022. It will be completed in 2023.
“Our vision for West Cebu Estate is to be an industrial anchored-mixed-use estate. Today, what we have there is primarily industrial use but with our expansion we are not only planning to expand the industrial estate but we are also planning to put up a commercial component that will not just serve the estate but also the surrounding community of Balamban,” he said.
“Beyond that, we see this as the first stepping stone towards a future central business district where we will have high-density buildings, probably also big commercial lots as well,” de Mesa added.
CIPDI said the expansion will see 39 hectares for industrial locators. There will be 15 lots in total, ranging from one- to five-hectare areas.
The expansion will allow for more industrial spaces plus a four-hectare commercial complex, a central terminal and communal parks.
De Mesa said the firm will also consider putting up high-rise office towers for business process management and residential components once the market is ready for these types of products.
Currently, WCIP is a 540-hectare mixed-use estate anchored by a 283-hectare Philippine Economic Zone Authority registered zone that has complementary commercial, institutional and residential components. The estate hosts 11 locators from medium to heavy industries, some of which are the biggest shipbuilding firms in the world.
Aboitiz’s total estate footprint now stands close to 1,500 hectares.
“A unique feature of our economic estate business are the mixed of uses within our communities that not only complement the industrial use but that trigger business activity and improve the quality of lives in the localities wherein we operate,” said de Mesa.