Home / Press Release / Aboitiz InfraCapital earmarks P1.4 billion for West Cebu Estate Expansion

Aboitiz InfraCapital earmarks P1.4 billion for West Cebu Estate Expansion

Press Release

March 17, 2022

Aboitiz InfraCapital to develop 39 hectares of its West Cebu Estate to host more industrial locators in the region

(From left to right) Mr. Jun Rodriguez, President of JC Rodriguez Construction Corporation, Cebu Division Chief Floreza Alpuerto from the Board of Investments, Mr. Rafael Fernandez de Mesa, President of Cebu Industrial Park Developers, Inc. and Head of Aboitiz InfraCapital Economic Estates, Ms. Cosette V. Canilao, President and CEO of Aboitiz InfraCapital, Philippine Economic Zone Authority (PEZA) Director General BGen. Charito “Ching” Plaza, Cebu 3rd District Representative and Deputy House Speaker Pablo John Garcia, and Hon. Alex Binghay, Mayor of Balamban, Cebu.

Aboitiz InfraCapital (AIC), the infrastructure arm of the Aboitiz Group, is investing P1.4 billion into the expansion of the West Cebu Estate (WCE) to host more industrial locators in the province of Cebu.

With the development of 39 hectares of the 540-hectare estate, the expansion is expected to generate an additional 14,000 jobs upon its completion by 2024, and will include the diversification of WCE’s locator mix to include light to medium manufacturing.

In its groundbreaking ceremony held Thursday, March 10, Cebu Industrial Park Developers, Inc. President and Head of AIC Economic Estates Rafael Fernandez de Mesa shared that there is growing demand for industrial spaces in key areas in Cebu, with more locators expected to set their sights in the region as the country gears up for recovery.

“The province of Cebu is well-positioned to welcome foreign and local investors as they look for high-growth areas that can support their businesses—given its strategic location, skilled population, lower cost of doing business and a well-established ecosystem of infrastructure. We look forward to welcoming more locators as we transform the West Cebu Estate into a fully-integrated economic center that will power the growth of Balamban and its surrounding communities, similar to our work in AIC’s LIMA Estate in Batangas and Mactan Economic Zone 2 Estate in Lapu-Lapu City.”
– Rafael Fernandez de Mesa, Cebu Industrial Park Developers, Inc. President and Head of AIC Economic Estates

As Cebu remains an attractive location for businesses seeking prime talent in the Visayas, Balamban Mayor Alex Binghay hopes that the WCE Expansion will increase employment and economic activity for the first class municipality tagged as the “Shipbuilding Capital of the Philippines.”

“I would like to congratulate [the Aboitiz Group] for this expansion and I hope this will bring many employment to our people…with more economic activity for Balamban, we could catch up with other component cities in Cebu and contribute more on the province’s income.”
– Mayor Alex Binghay

For Cebu’s 3rd District Representative and Deputy House Speaker Pablo John Garcia, the expansion of WCE opens Balamban to diverse industries that will usher an “economic boom” for his constituency.

“This means that new sectors of workers with different sets of skills and businesses in whole new lines of industry will benefit directly and indirectly form the economic boom that [the] Aboitiz Group apparently sees coming and we are confident [for that to] come in the near future,” Rep. Garcia said.

Meanwhile, Philippine Economic Zone Authority (PEZA) Director General BGen. Charito “Ching” Plaza commended the estate expansion’s role in spurring economic growth through the creation of livelihood opportunities.

“By giving jobs to our people, we are not just increasing their buying power, we will be creating a multiplier effect that will see more businesses growing along with the demands of the people. PEZA’s plan is for all LGUs to have ecozones, which will be an economic driver to grow smart towns, digital cities, leading to new metropolitan regions in all areas,” BGen. Plaza shared.

WCE hosts 11 locators from medium to heavy industries, and has complementary residential, commercial, and institutional components, with future development areas for commercial centers, dormitories, and residential communities.

The West Cebu Estate is owned and developed by Cebu Industrial Park Developers, Inc. (CIPDI)—a joint venture project of Aboitiz InfraCapital with Tsuneishi Holdings of Japan.

Aboitiz InfraCapital earmarks P1.4 billion for West Cebu Estate Expansion

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