Aboitiz Infra to invest P1.4B to develop 39-hectares of West Cebu Estate

MINERVA BC NEWMAN

BALAMBAN, Cebu— Aboitiz InfraCapital (AIC) is set to invest P1.4 billion to develop 39-hectares of West Cebu Estate (WCE) in Balamban to attract more industrial locators here as the company sees a growing demand for industrial spaces in key areas in Cebu with the country gearing up for economic recovery from the pandemic.

Cebu Industrial Park Developers, Inc. President and Head of AIC Economic Estates Rafael Fernandez de Mesa bared that 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 which will include the diversification of WCE’s locator mix to include light to medium manufacturing.

In its groundbreaking ceremony on March 10, Fernandez De Mesa said that with more locators eyeing for Central Visayas, 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.

“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,” Fernandez de Mesa said.

Balamban mayor Alex Binghay lauded the Aboitiz Group for this expansion that is expected to bring in more local employment, and with more economic activity in Balamban and he hopes that the WCE expansion will increase employment and economic activity for the first-class municipality tagged as the “Shipbuilding Capital of the Philippines.”  He is optimistic the town could catch up with other component cities in Cebu, contributing more income to the Province.

According to Pablo John Garcia, Cebu’s 3^rd district representative and Deputy House Speaker that the of WCE opens Balamban to diverse industries that will usher an “economic boom” for his constituency.  It 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 brings in to this town.

Philippine Economic Zone Authority (PEZA) Director General BGen. Charito Plaza also 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,” Plaza said. 

WCE hosts 11 locators from medium to heavy industries; 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. (Photos: AIC/Google Images)