AboitizLand eyes Davao expansion

ABOITIZLAND, the real estate arm of the Aboitiz Group is looking into expanding its operations in Davao City.

This was bared by Jaime Aboitiz, executive vice president and chief operating officer of Aboitiz Power Corp. Distribution Group, saying it's part of the company's nationwide expansion program in the next five years.

"There is no concrete plan yet but we are hoping to do it by 2020," he said in an interview with Sun. Star Davao.

He underscored the plan of expansion came after the company recognized "the growth in the local residential, commercial, business process outsourcing and retail industries" in the city.

In an earlier report, AboitizLand Inc. chief executive officer Andoni Aboitiz said the company is still in the process of seeking land to develop in Davao.

Being the hometown of President Rodrigo Duterte, property advisors have seen Davao as today's most promising area in Southern Philippines. While business has been dynamic in the area prior to Duterte's presidency, experts believe Davao City will see a major boost in the next six years.

In recent reports, the AboitizLand CEO has been quoted as saying the company will be spending P25 billion over the next five years for national expansions including Luzon and

some parts in Visayas like Iloilo.

For the past two decades, the property developer has been limited to Cebu-based projects but it has later on decided to go on a national scale.

Aboitiz Land, according to the Aboitiz Equity Ventures (AEV) capital expenditure (capex) data for this year, is spending P2.7 billion to acquire more industrial and residential land. ASP