LIMA Land, Inc., a wholly-owned subsidiary of Aboitiz InfraCapital (AIC), and House of Investments (HI), the holding company of the Yuchengco Group, have entered into a joint venture agreement to co-develop a 184-hectare mixed-use estate in Tarlac.
The joint venture expands TARI Estate, LIMA Land’s flagship industrial-anchored economic estate in Central Luzon.
The agreement, approved by both companies’ Boards of Directors on August 8 is subject to regulatory approvals from the Philippine Competition Commission and the Securities and Exchange Commission. The land to be developed is owned by HI subsidiary Tarlac Terra Ventures, Inc. (TTVI).
Under the deal, HI will hold a 51 percent stake in the joint venture, while LIMA Land will own 49 percent. LIMA Land will also serve as the exclusive provider of project management, estate operations, and general support services.
With the addition of this new project, TARI Estate’s footprint will increase to 384 hectares, integrating commercial, residential, and institutional components into its industrial base. The expanded estate will also offer strategic access to the Luisita Access Road, a vital connector to SCTEX and the broader Luzon expressway network—enhancing logistical efficiency for locators and future residents.
“This is our first major venture into economic estates,” said HI president and chief executive officer Lorenzo Tan. “It expands our footprint in horizontal property development and reinforces our commitment to delivering sustainable, long-term value.”
Rafael Fernandez de Mesa, president of LIMA Land and head of Aboitiz InfraCapital Economic Estates, said the partnership has transformative potential. “We’ve seen strong momentum in TARI Estate’s Phase 1, and this venture allows us to scale up and introduce a dynamic ecosystem where businesses thrive and communities prosper,” he said.
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