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Aboitiz InfraCapital Economic Estates Breaks Ground on TARI Estate, Ushering in a New Era for Industrial Development in Tarlac

Press Release

May 7, 2024

Aboitiz InfraCapital Economic Estates leads the toast celebrating the launch of its fourth economic estate, TARI Estate, with special guests (from left to right) Cosette Canilao, President and CEO of Aboitiz InfraCapital, Inc.; Director General Tereso Panga of the Philippine Economic Zone Authority; Sabin M. Aboitiz, President and CEO of the Aboitiz Group; Secretary Alfredo Pascual of the Department of Trade and Industry; Mayor Cristina Angeles of Tarlac City; and Rafael Fernandez de Mesa, Head of Aboitiz InfraCapital Economic Estates

In a momentous event attended by esteemed guests, government officials, and partners, Aboitiz InfraCapital Economic Estates proudly introduced TARI Estate, heralding a new era of industrial development in Tarlac.

Leveraging its three decades of experience as the leading industrial developer in the Philippines, Aboitiz InfraCapital recognizes the significant potential Tarlac holds. Central Luzon’s strategic location and robust economic growth make it an attractive destination for investment, further bolstered by the Philippine government’s initiatives to attract foreign investment and improve infrastructure.

“Our Economic Estates in Batangas and Cebu are thriving hubs, encompassing over 1,600 hectares of development. They house nearly 250 leaders in industry, generating over Php 155 billion in investments and employing over 100,000 Filipinos. TARI Estate will build upon this incredible legacy,” remarked Rafael Fernandez de Mesa, Head of Aboitiz InfraCapital Economic Estates.

TARI Estate, spanning 200 hectares of prime industrial land in its initial phase, will serve as a catalyst for economic expansion and job creation, with up to 60,000 new jobs projected to be generated. Embracing a holistic approach, the estate will offer world-class facilities and amenities provided by Aboitiz Group affiliates, including power, water, construction, financing, smart city technology, and government support, to create a vibrant ecosystem for businesses.

“The development of TARI Estate, along with the mission of attracting foreign investments to locate within the estate, will create employment for Tarlac City and nearby municipalities,” said Department of Trade and Industry Secretary Alfredo Pascual. “With the multiplier effect of this project, we’re confident that we can maximize the private sector investments to ensure the creation of livelihood and opportunities for the communities within the area,” he added.

Aboitiz InfraCapital Economic Estates stands as the only developer in the Philippines with an unwavering focus on industry-anchored development, driving job creation, economic growth, and social progress.

By integrating diverse asset classes such as retail, office spaces, residential areas, dormitories, warehouses, and hospitality, TARI Estate aims to differentiate itself from conventional industrial parks and foster a dynamic lifestyle hub that enriches the overall experience for its community.

Moreover, TARI Estate joins forces with LIMA Estate, Aboitiz InfraCapital Economic Estates’ highly successful 900-hectare industrial park in Batangas. Both estates will form a strategic network within the Luzon Economic Corridor, the Philippine government’s comprehensive infrastructure development initiative aimed at enhancing connectivity, strengthening supply chains, and fostering economic growth across Luzon. This positions Aboitiz InfraCapital Economic Estates as a key player in driving regional progress, and facilitating seamless collaboration between businesses, industries, and communities.

“Our expansion into Tarlac underscores our commitment to supporting the government’s vision. We see ourselves as partners, providing world-class facilities to help investors capitalize on the Philippines’ advantages,” said Fernandez de Mesa.

“This project is one of the biggest fruits of our administration’s untiring efforts to ensure a truly business-friendly environment in Tarlac City,” said Hon. Mayor Cristina Angeles of Tarlac City. “Our initiatives aimed at enhancing the ease of doing business and stimulating economic growth have bore fruit…We are glad that Aboitiz is one of our most valued partners in the realization of our development goals.”

“Baguio City, Lapu-Lapu City, Cavite, Batangas and Laguna, these highly urbanized cities outside the NCR have another thing in common aside from being top contributors to our national GDP. They also form part of the top 10 richest cities outside of Metro Manila where 9 out of 10 host special economic zones. And with this groundbreaking ceremony, I am confident that Tarlac will soon be part of this list, all thanks to AIC,” shared Philippine Economic Zone Authority Director General Tereso Panga.

As they marked the groundbreaking for TARI Estate, Aboitiz InfraCapital Economic Estates invited everyone to join them on this journey towards a brighter future for Tarlac, Central Luzon, and the Philippines.

Aboitiz InfraCapital Economic Estates Breaks Ground on TARI Estate, Ushering in a New Era for Industrial Development in Tarlac

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