Aboitiz InfraCapital Economic Estates is preparing for the second phase of expansion at the West Cebu Estate, following the speedy construction of the industrial zone segment which is said to be 6 percent ahead of schedule.
Seeing how fast the developments unfold, the leading industrial green developer is looking at commencing the next phase of the project which is the construction of a central business district by the third quarter of 2023.
“This is envisioned as the new urban center of Balamban. Initially, there will be a neighborhood commercial complex that features a supermarket, transportation hub, and shops providing other basic necessities for the community. This will be followed by commercial lots for sale, which is envisioned to cater to a mix of office, residential, and institutional uses,” said AIC Economic Estates head Rafael Fernandez de Mesa.
The commercial segment is expected to support the population growth of the estate and Balamban as the host community. West Cebu Estate is a commercial complex that will house local and global retail brands, basic services, food outlets, a supermarket, and a transportation hub.
It will provide accessibility for the daily essentials of the growing community in Balamban, positioning West Cebu Estate as the center of commerce in the municipality and its adjacent communities.
AIC advised that investors at the economic estates may start initial construction activities inside the expanded West Cebu Estate by April 2023.
Set for completion by 2024, the industrial expansion is expected to generate an additional 14,000 job opportunities for residents of Balamban City, the host community and the province of Cebu.
“With our internationally-recognized market leadership and 30-year track record of developing and transforming the countryside into thriving centers of commerce, Aboitiz InfraCapital envisions West Cebu Estate to play a key role in elevating the profile of Industrial Estates in the Philippines. Through the smart and sustainable transformations that are currently underway, West Cebu Estate will not just rival the best in the country, but more importantly, it will serve as a benchmark in the Asia Pacific region,” said de Mesa.