Lima Technology Center

Lima Technology Center
Project
DeveloperAboitiz Group
OperatorLima Land
OwnerLima Land
Location
Lima Technology Center is located in Luzon
Lima Technology Center
Location in Luzon
Lima Technology Center is located in Philippines
Lima Technology Center
Location in the Philippines
Coordinates: 14°00′51.0″N 121°10′29.8″E / 14.014167°N 121.174944°E / 14.014167; 121.174944
CountryPhilippines
LocationLipa and Malvar, Batangas, Philippines
Area
 • Total
794 ha (1,962 acres)

The Lima Technology Center (stylized as LIMA Technology Center) is a mixed-use development spanning portions of Lipa and Malvar in Batangas, Philippines. It is recognized as a special economic zone.

History

The Lima Technology Center is a development by Lima Land, Inc. (LLI), a 60-40 joint venture of local firm Alsons Land Inc. and Japanese company Marubeni[1] The Alcantara Group originally had the majority stakes in Alsons Land.[2] "Lima" in its name was derived from the first syllables of Lipa and Malvar, the location of the center.[3]

The Aboitiz Group through its subsidiary Aboitiz Land started acquiring LLI in the early 2010s. In 2013, it bought out the Alcantara Group's majority stakes in LLI.[2] At that time the area covers around 200 ha (490 acres).[4] The following year, it bought the remaining stakes owned by Marubeni making Aboitiz the full owner of LLI.[1]

Under the Aboitiz Group, the Lima Technology Center was further expanded, covering an area of more than 700 ha (1,700 acres) by 2020.[4] In 2019, Abotiz launched the first residential development within the Lima Technology Center, "The Villages at Lipa".[5] By 2021, the group has rebranded the commercial zone of the development as a central business district.[4]

Economy

The Lima Technology Center is primarily an industrial park and is a registered special economic zone with the Philippine Economic Zone Authority. After the Aboitiz Group acquired the development in the 2010s, the area became a mixed-used development. As of 2021 it covers an area of 794 ha (1,960 acres).[6] The Aboitiz Group manages the development as one of its Aboitiz Integrated Economic Centers.[7]

The Lima Technology Center contains the Lima Estate.[8] The Lima Technology Center has a commercial area which Aboitiz considers as a central business district (CBD). The CBD covering an area of around 30 ha (74 acres), hosts The Outlets at Lipa, Lima Exchange, Lima Park Hotel, as well as the Lima Transport Hub [9]

As of 2020, the Lima Technology Center has 124 locators, consisting of both local and foreign firms, employing around 55,000 workers.[8]

Sports

The Lima Technology Center hosts the Aboitiz Pitch, a football venue which has held matches of the Philippines Football League.[10]

References

  1. ^ a b Rivera, Danessa (February 21, 2015). "AboitizLand buys out Marubeni in Batangas-based Lima Land". GMA News. Retrieved October 23, 2021.
  2. ^ a b "AboitizLand buys out Alcantara Group in Lima Land for P1.36B". GMA News. October 4, 2013. Retrieved October 23, 2021.
  3. ^ Agbayani, Susan Claire (November 12, 2015). "Bees, boats and a volcano". BusinessWorld. Retrieved October 23, 2021.
  4. ^ a b c Abadilla, Emmie (March 2, 2021). "Lima Land expansion to generate 20,000 jobs". Manila Bulletin. Retrieved October 23, 2021.
  5. ^ Abad, Roderick (July 31, 2019). "AboitizLand rolls out expansion plan in Batangas". BusinessMirror.
  6. ^ "Aboitiz-led Lima Land to expand industrial estate in Batangas". BusinessWorld. August 19, 2021. Retrieved October 23, 2021.
  7. ^ "Aboitiz integrated economic centers well-positioned for CREATE". Philippine News Agency. April 21, 2021. Retrieved October 23, 2021.
  8. ^ a b Desiderio, Louella (December 10, 2020). "Aboitiz to expand Batangas township". The Philippine Star. Retrieved October 23, 2021.
  9. ^ Ibañez, Jenina (April 19, 2021). "Lima Estate sells commercial lots within CBD". BusinessWorld. Retrieved October 23, 2021.
  10. ^ "U23 football squad polish skills in Lipa". BusinessMirror. October 22, 2021. Retrieved October 23, 2021.