Aboitiz InfraCapital leads countryside development outside Metro Cebu
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Aboitiz InfraCapital leads countryside development outside Metro Cebu
May 5, 2023
Asia’s leading industrial green developer, Aboitiz InfraCapital (AIC) Economic Estates, broadens its West Cebu Estate (WCE) portfolio with ongoing industrial expansions and upcoming commercial developments — driving stronger investor interests to Balamban, a fast-growing municipality west of highly urbanized Metro Cebu.
Dubbed as the “Shipbuilding Capital of the Philippines”, WCE is a 540-hectare industrial-anchored development in the coastal municipality of Balamban Cebu that currently employs 14,000 employees and plays host to 11 world-class companies, some of which are the largest shipbuilding firms in the world.
“With our internationally-recognized market leadership and 30-year track record of developing and transforming the countryside into thriving centers of commerce, Aboitiz InfraCapital envisions West Cebu Estate to play a key role in elevating the profile of Industrial Estates in the Philippines. Through the smart and sustainable transformations that are currently underway, West Cebu Estate will not just rival the best in the country, but more importantly, it will serve as a benchmark in the Asia Pacific region,” says Rafael Fernandez de Mesa, AIC Economic Estates Head and Cebu Industrial Park Developers Inc. President.
Last March 2022, it broke ground on a 39-hectare industrial expansion to cater to the growing demands from a wider range of industry beyond maritime businesses, such as automotives, manufacturing, and logistics. Recent contract signings with foreign manufacturing companies, as well as the numerous visits, shows the strong interest in the area.
Currently, the expansion is 6% ahead of its construction progress versus initial forecasts, allowing the new locators to begin construction of their respective facilities by April 2023. Set for completion by 2024, the industrial expansion is expected to generate an additional 14,000 job opportunities for residents of Balamban and the province of Cebu.
Road networks and infrastructure facilities are part of the ongoing construction at West Cebu Estate’s industrial expansions. Ahead of the target POC, new locators can begin their facility construction by April of 2023.
Up-and-Coming Central Business District to spark commercial progress
As a catalyst of growth in the countryside, Aboitiz InfraCapital Economic Estates is currently rolling out various initiatives to transform West Cebu Estate into a smart, next-generation, and future-ready economic center.
The next phase of development will be the introduction of a Central Business District, envisioned as the new urban center of Balamban. Initially, there will be a neighborhood commercial complex that features a supermarket, transportation hub, and shops providing other basic necessities for the community. This will be followed by commercial lots for sale, which is envisioned to cater to a mix of office, residential, and institutional uses.
A commercial complex will soon rise at Balamban to complement the needs of the growing population in the area.
Anticipating the population growth of the Estate and of Balamban, AIC is set to break ground of the initial phase of the commercial development in the third quarter of 2023. West Cebu Exchange is a commercial complex that will house local and global retail brands, basic services, food outlets, a supermarket, and a transportation hub. It will provide accessibility for the daily essentials of the growing community in Balamban, positioning West Cebu Estate as the center of commerce in the municipality and its adjacent communities.
Anticipating the demands of the growing population of West Cebu Estate, Aboitiz InfraCapital is expanding the Estate through industrial expansions and commercial developments beginning third quarter of 2023.
“Following a positive growth forecast on the country’s economy, we remain optimistic that our vision of West Cebu Estate as a center of commerce stimulating further growth for Balamban and the province of Cebu is coming to fruition. Its strategic location, skilled population, lower cost of doing business, and well-established ecosystem of infrastructure will usher in more light, medium, and heavy industries that are looking to expand in fast growing cities, thus increasing investments that will provide jobs for thousand more Cebuanos,” said Aboitiz InfraCapital Economic Estate Head Rafael Fernandez de Mesa.
West Cebu Exchange, the first of the new developments in the Estate, exemplifies Aboitiz InfraCapital’s leadership in developing and operating next-generation, smart and sustainable economic centers that drives change for the people and the communities wherein they operate. Following a 2-year streak, Aboitiz InfraCapital emerged as Asia’s Best Industrial Developer during the 2022 Asia Property Awards, and also received numerous local and international recognitions for its sustainability initiatives.
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