MARKING its 25th year in the real-estate industry, property developer AboitizLand recently rolled out an integrated township within its industrial city called the Lima Technology Park, with the official launch of its residential community dubbed “The Villages at Lipa.”
The entire 600-hectare project will not just be a home to top global manufacturing companies, international and local retailers, but soon to Filipino families.
On top of what the real-estate arm of the Aboitiz Group has invested so far to fully own Lima from the time it acquired the existing part of it from the Alsons Group and then subsequently its partner Marubeni, it is pouring in P7 billion worth of investments to complete the residential and commercial components of the project.
“We’ve actually doubled the size of the [Lima Technology] Park. We’ve began to grow, not just the industrial part, but the commercial component, and we’re launching the first residential community,” AboitizLand President and Chief Executive Officer David Rafael told reporters recently during their media briefing before the launch. At 50 hectares, The Villages at Lipa is planned with three residential communities, collectively offering around 2,700 units of lots and house and lots fit for mid- to the upper mid-markets.
First is the Sierra Village with “Lot Only” packages, as well as townhouses with a floor area of 93 square meters, and single-attached and single-detached homes from 103 sq m to 150 sq m. The Brook Village has “Lot Only” packages, as well as townhouses with a floor area of 53 sq.m and single-detached homes from 65 sq m to 80 sq m.
“We’re focused on the modern Filipino architecture because we want to do something that represents our heritage and also our response to the climate [change and] to the preferences of the people that are going to live in the community. We draw inspirations from our past, but we execute it in a modern way,” said Rafael de Mesa, first vice president for operations of AboitizLand.
The way the developer plans is what also makes it in sync with its other community projects yet distinctive from the competition, according to him.
“You’ll notice that versus other developers, we tend to have a little more open space. And those open spaces are typically connected to a network of pedestrian pathways and smaller pocket parks,” he noted.
Lots and house and lots in The Villages at Lipa are now on presale. Prior to the launch, however, sales take-up has already been impressive, confirming its attractiveness as a future home and an investment. Current prices range between P12,000 and P13,000 per sq m.
“I think this is a very good introductory price considering how prices of land are rising so quickly, even as you move south out of Metro Manila. So it’s really a bargain and a great entry, and it’s surely going to appreciate over time,” de Mesa said.
Currently, the site is under construction. Roadworks are about to start. Building the first houses for both Brook and Sierra villages will begin within 2019, and turnover is expected next year. The entire residential component of Lima is set for completion over the course of three years.
“Depending on how fast the take-up is, then, we are already prepared to expand it maybe to double the size of the residential. Within Lipa, we’ve got more land that we can expand the residential component,” Rafael bared.
“We take pride in these milestones and we plan to take it up a notch this year, starting with the next big thing in the south,” added de Mesa. “With Calabarzon sustaining its place as an economic center and hub for investors, we are set to further develop Lima.”
Aside from The Villages, the industry city houses The Outlets at Lipa, the country’s biggest outlet mall spanning at 9.3 hectares. This commercial area boasts hundreds of top retail and food and beverage brands. It is set amid an open area with pocket parks, al-fresco dining and an Olympic-sized multisport field.
AboitizLand will also usher in a new level of convenience with Lima Exchange. Set to open in the first quarter of 2020, this one-stop location will have daily basic needs and services together, such as a transport terminal, a supermarket, a multisports gym and fast-food restaurants.
Soon, developments such as offices for business-process outsourcing firms and other tenants, dormitories, schools, hospitals, hotels and places of worship are expected to liven up the township and give growing Filipino families a holistic city experience.
A subsidiary to one of the country’s biggest and best-managed conglomerates—the Aboitiz Group of Companies—AboitizLand has nurtured Cebu’s residential, industrial and commercial communities.
The firm has since expanded to Luzon with the launch of Seafront Residences in San Juan, Batangas, in 2017, and Ajoya in Nueva Ecija and Tarlac in 2018. It is in a position to acquire and develop more properties across the country to reach more Filipino families and businesses.
“We continue to expand our residential portfolio north and south of Metro Manila, as well as Cebu. But, at the same time, we’re also looking at other areas of high growth in the country for opportunities,” de Mesa stressed.