West Cebu Estate Celebrates 30 years of Revolutionizing Industrial Development and Driving Economic Progress

BALAMBAN, Cebu, May 25, 2023 — Aboitiz InfraCapital Economic Estates, a leader in smart and sustainable industrial-anchored development in the Philippines, is proudly commemorating the 30th anniversary of West Cebu Estate, reaffirming its enduring commitment in solidifying the Philippines’ position as the ideal investment destination. What began as a joint venture between the Aboitiz Group and Tsuneishi Holdings of Japan in 1993 has evolved into a sprawling 540-hectare industrial-anchored mixed-use Economic Estate.

With an ambitious vision from its inception as West Cebu Industrial Park, the partnership embarked on a transformative journey in the shipbuilding industry, driven by two core objectives: to create employment opportunities for the local population and to raise the standard of development in the countryside.

The partnership's resounding success attracted several renowned companies that established shipbuilding facilities at West Cebu Industrial Park. Tsuneishi Heavy Industries (Cebu), established in 1994, now boasts one of the largest shipbuilding facilities in the Philippines. In 2012, Austal, a leading Australian shipbuilder specializing in naval, government, and commercial vessels, also set up operations. Advance Catamaran Composites and Cebu Maritime Industry became esteemed locators in 2020 and 2022, respectively.

In 2021, Aboitiz InfraCapital Economic Estates unveiled a new brand identity for its industrial parks, signifying its industry leadership and highlighting the transformation into a comprehensive industrial-anchored mixed-use development, encompassing residential, commercial, and institutional components. Consequently, West Cebu Industrial Park was renamed West Cebu Estate.

"Over the past thirty years, West Cebu Estate has gone on to become what today is known as the ship building capital of the Philippines. This 540-hectare industrial-anchored mixed-use Estate hosts some of the most well-known shipbuilding firms in the world, and produces some of the largest and most sophisticated sea vessels that can be found anywhere in the world. It gives us great pride that what is produced here in Balamban goes on to be seen around the world, showcasing the skill and ingenuity of the Filipino labor force," said Rafael Fernandez de Mesa, President of Cebu Industrial Park Developers, Inc., and Head of Aboitiz InfraCapital Economic Estates.

"We have an exciting journey ahead, where West Cebu Estate will evolve into a next-generation, smart, and sustainable Economic Estate. We extend our gratitude to our stakeholders from both the public and private sectors who have been instrumental in realizing our goals over the years, creating more opportunities for the Philippines and all Filipinos."

To meet the growing demands of a diverse range of industries beyond maritime businesses, Aboitiz InfraCapital Economic Estates broke ground on the 39-hectare industrial expansion of West Cebu Estate in 2022. This expansion facilitates the transformation of what was primarily a shipbuilding hub into a mixed-use development catering to other sectors such as automotive, manufacturing, and logistics.

Beyond its strategic location, West Cebu Estate boasts a skilled workforce and a favorable business environment, making it an attractive investment destination that can significantly drive growth in Balamban and the province of Cebu. From 1995 to the present day, West Cebu Estate has attracted Php 32 billion in investments from its locators. With 11 locators and 14,000 employees, the estate propels countryside development through investments and job creation across the municipality of Balamban and neighboring areas of Toledo and Asturias.

"While we take immense pride in our past and recent achievements, we remain steadfast in our pursuit of even greater aspirations in the years to come. We envision West Cebu Estate playing a crucial role in elevating the profile of industrial-anchored estates in the Philippines," added Fernandez de Mesa.

An integral part of this vision involves advancing West Cebu Estate's environmental and sustainability initiatives, such as the construction of vertical garden structures, the transition to solar power, implementation of solid waste management solutions, and ongoing progress towards BERDE-District Registration to ensure the estate aligns with global sustainability standards.

To build upon its legacy of making Cebu the ideal investment destination and to propel the transformation of Economic Estates into next-generation, smart, and sustainable cities, Aboitiz InfraCapital plans to develop commercial areas within West Cebu Estate. This includes a commercial complex housing food outlets, retail shops, basic services, a supermarket, and a transportation hub. Additionally, transportation decarbonization efforts will be prioritized, enhancing greenscapes and landscapes and promoting walkability and bikeability throughout the estate. Plans for a new central business district are underway, along with the integration of smart technology and sustainability initiatives to enhance the quality of life for the West Cebu Estate communities.

"As we go along our journey of becoming the Philippines' first techglomerate, we remain committed to expanding and transforming West Cebu Estate, and other economic estates, into future-ready, master-planned developments by leveraging on the synergies and capabilities with the bigger Aboitiz Group. Together with our partner locators, we are excited and looking forward to continue raising the bar and setting new benchmarks in the development of our Economic Estates, fueling our economic growth, and ultimately contributing to the prosperity of our nation," shared Cosette V. Canilao, Aboitiz InfraCapital President, and Chief Executive Officer.