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Philippine Competition Commission clears Aboitiz-Yuchengco joint venture for TARI Estate in Tarlac
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JV covers 184 hectares initially, expanding the estate to 384 ha
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House of Investments, the non-bank holding company of the Yuchengco Group of Companies, holds a majority stake of the JV at 51%
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Aboitiz Economic Estates owns 49% and manages operations
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Phase 1 development to be completed in the second half of the year
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Estate targets light- to medium-scale industries and over 60,000 jobs at full build-out
LIMA Land, Inc., operating as Aboitiz Economic Estates, and House of Investments (HI) of the Yuchengco Group of Companies have secured clearance from the Philippine Competition Commission (PCC) to proceed with definitive agreements for their joint venture at TARI Estate in Tarlac City.
Listed companies HI and Aboitiz Equity Ventures, Inc., the holding firm of the Aboitiz Group, made the announcement in their respective regulatory disclosures on February 11 and through a press release.
Under the PCC-approved structure, the 184-hectare (ha) property owned by HI subsidiary Tarlac Terra Ventures, Inc. will be developed in partnership with Aboitiz Economic Estates, with HI holding a 51% stake and Aboitiz Economic Estates owning 49%.
“We value our partnership with the Aboitiz Group in advancing economic development in Central Luzon. As our first major venture into Economic Estates, we strengthen our position in horizontal property development and broaden our property portfolio,” said Lorenzo V. Tan, president and CEO of HI.
Rafael Fernandez de Mesa, president and CEO of Aboitiz Economic Estates and Aboitiz Land, said with the PCC approval, “we are accelerating infrastructure delivery, expanding access, and welcoming new locators into a dynamic ecosystem… Through Tarlac Terra Ventures, we are creating an environment where industries can scale efficiently, investments translate into real progress, jobs are created and communities benefit from sustainable economic growth.”
Aboitiz Economic Estates will serve as the exclusive provider of project management, estate operations and general support services, expanding TARI Estate to a total of 384 ha.
READ: LIMA, House of Investments collaborate to expand TARI Estate
Development at TARI Estate is progressing, with Phase 1 covering 90 hectares currently undergoing site development and targeted for completion in the second half of the year.
Subsequent phases are being advanced in parallel to accelerate infrastructure delivery and align the estate with growing investor demand, Aboitize Economic Estates said in a company disclosure on February 11.
The estate is being built with an integrated internal road network and direct access to Luisita Road to support logistics and workforce mobility. It will also feature reliable power and water supply, telecommunications and fiber connectivity, and estate-wide utilities designed to support continuous industrial operations.
Dedicated offices of the Philippine Economic Zone Authority (PEZA) and Bureau of Customs are targeted to be operational by the first quarter of 2027, aimed at streamlining regulatory and customs processes within the estate.
The expansion is designed to support light- to medium-scale industries, complementing the operations of anchor locators Coca-Cola Europacific Aboitiz Philippines and Ajinomoto Philippines Corporation.
TARI Estate’s first phase is fully sold out, with locators now in various stages of development. Phase 2 is drawing increasing interest from both foreign and domestic companies seeking to strengthen their supply chains, the developers said.
Strategically located near the toll roads SCTEX, TPLEX, and CLLEX, and in proximity to Clark International Airport and major seaports, the estate provides locators access to Luzon’s logistics network.
At full build-out, the 384-hectare economic zone is projected to generate more than 60,000 jobs and host integrated commercial, industrial, residential, institutional, and transport components, positioning it as a major growth center in Central
