Aboitiz Economic Estates is preparing to invest about P7 billion in LIMA Estate in Batangas as sustained demand for office space drives the expansion of its commercial business district.
Malcolm Santiago, commercial business unit head for LIMA at Aboitiz Economic Estates, said the company is taking a market-driven approach to the development, with each of seven planned buildings requiring about P1 billion in capital expenditure.
The seven-building program is expected to unfold over the next 10 to 15 years, with the first tower targeted for completion by early to mid-2027. Leasing is already underway.
The eight-story tower will offer about 11,000 square meters of office space and will accommodate both business process outsourcing and traditional office tenants, giving LIMA a broader commercial base.
BPO companies currently account for about 95 percent of LIMA’s office market, Santiago said, but the estate is looking to diversify its tenant mix as demand from other office users grows.
Discussions are ongoing with several BPO firms, including prospective tenants that could take entire floors, while coworking and other office concepts are also being considered.
Existing locator Conduent is expanding its presence, taking another floor that will increase its footprint from about 9,000 square meters to 12,000 square meters. Its workforce is expected to rise from around 750 to 1,300 employees.
Other locators could bring an additional 1,500 to 1,600 jobs to LIMA by year-end, further supporting demand for commercial space.
“All seven buildings are market-driven, so we need to make sure occupancy supports the next phase of development,” Santiago said.
That approach means Tower 2 will not automatically follow the first building. Construction could begin once the initial tower reaches about 80 percent to 85 percent occupancy, with completion expected to take roughly 18 months.
The planned expansion reflects LIMA’s shift from an industrial estate into a more diversified economic hub combining manufacturing, offices, services, and residential and commercial developments.
Aboitiz Economic Estates is also incorporating sustainability and technology into the estate, including electric vehicle shuttle initiatives and digital tools such as virtual plant tours.
With BPO demand remaining strong and traditional office users showing increasing interest, the CBD expansion could strengthen LIMA’s position as a major employment and investment center in Batangas while allowing Aboitiz to scale development in line with actual market demand.
