Aboitiz, Yuchengco partner to expand TARI Estate in Tarlac

THE ABOITIZ Group's Lima Land, Inc. is entering into a joint venture (JV) agreement with the Yucheng-co group’s listed holding company House of Investments, Inc. (HI) to expand the TARI Estate in Tarlac.

- Revin Mikhael D. Ochave

Under the JV, the two groups will develop and manage a 184-hectare mixed-use property owned by HI subsidiary Tarlac Terra Ventures, Inc. that will expand Lima Land’s TARI Estate to 384 hectares, the Aboitiz group’s listed holding company Aboitiz Equity Ventures, Inc. (AEV) said in a statement on Monday.

HI will hold a 51% stake in the expansion project, while LIMA Land will hold 49%. LIMA Land will also serve as the exclusive provider of project management, estate operations, and general support services for the site.

LIMA Land is a subsidiary of the Aboitiz group’s infrastructure arm Aboitiz InfraCapital, Inc. (AIC), while HI is the non-bank holding company of the Yuchengco Group of Companies.