By Jenniffer
B. Austria | Posted on Jan. 02, 2013 at 12:01am
[
manilastandardtoday.com ]
Aboitiz Land
Inc., the property arm of Cebu-based conglomerate Aboitiz Equity Ventures Inc.,
is seeking joint venture partnerships with other real estate developers to
build projects in Cebu, a top company official said.
AEV chairman
Jon Ramon Aboitiz said the company owns several properties in Cebu, which could
be developed in partnership with other real estate companies.
“We are
exploring our options, including joint partnership in different areas. We own
huge landbank in Cebu,” Aboitiz said.
Aboitiz said
the company obtained another 15 hectares of land beside the Mactan 1 Economic
Zone, which could be developed into another special economic zone.
AEV completed
the acquisition of 100 percent interest in property firm Aboitiz Land from
Aboitiz & Co. Inc., which is the private holding company of the Aboitiz
family, for P3.2 billion in November.
The
acquisition is expected to improve the conglomerate’s earnings capacity.
“Aboitiz Land
is an ongoing business with strong recurring income from its industrial estates
as well as from its many existing projects. It also has a backlog of
prospective innovative projects,” AEV president and chief executive Erramon
Aboitiz said in a previous disclosure.
Aboitiz Land
is one of the most trusted Cebu real estate developers with investments in
residential, commercial and industrial developments and property management.
The property
firm established a number of projects over the past several years and continues
to innovate to meet the discriminating needs of its diverse markets – from the
young and upwardly mobile, young couples, growing families, non-Cebu natives
who wish to establish an address in the city to the international Filipino
community and the overseas Filipino workers.
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