Aboitiz Economic Estates and House of Investments (HI) have finalized a joint venture to expand TARI Estate in Tarlac, adding 184 hectares to the industrial park as they seek to tap rising demand for manufacturing and logistics space in Central Luzon.
The partnership, announced on Thursday, creates Tarlac Terra Ventures Inc., a venture that will support the continued development of TARI Estate, one of the Philippines’ emerging industrial hubs.
The move brings together Aboitiz Economic Estates’ industrial estate development and operations capabilities with HI’s capital backing and investment experience, as both firms position the estate to benefit from the region’s growing role as a manufacturing and supply chain corridor.
“We see TARI Estate as a compelling long-term investment that aligns with our strategy of supporting developments that contribute to economic growth,” HI President and Chief Executive Lorenzo Tan said in a statement.
Aboitiz Land and Aboitiz Economic Estates President and Chief Executive Rafael Fernandez de Mesa said industrial competitiveness increasingly depends on integrated ecosystems rather than standalone sites, adding that TARI Estate is being developed as a platform where infrastructure, talent and industry can support long-term manufacturing growth.
TARI Estate’s first 90-hectare phase has already been fully sold and developed, with locators moving ahead with construction and operational planning, the companies said. Additional phases are being rolled out alongside demand for industrial land in Central Luzon.
Infrastructure works are underway across the estate, including internal roads linked to Luisita Road, power and water systems, fiber connectivity and other utilities. Facilities of the Philippine Economic Zone Authority and the Bureau of Customs are expected to be operational by the first quarter of 2027, which the companies said would strengthen support for export-oriented manufacturers and logistics operators.
Among the estate’s early locators are Coca-Cola Europacific Aboitiz Philippines and Ajinomoto Philippines Corp., which are building large facilities at the site.
Once fully developed, TARI Estate is expected to generate more than 60,000 jobs, boosting economic activity in Tarlac and nearby areas in Central Luzon.
Aboitiz Economic Estates said the project forms part of its broader strategy to build smart and sustainable industrial-anchored townships across the Philippines.
Business News Asia
