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President Marcos declared a property in Malvar, Batangas as part of the Lima Technology Center-Special Economic Zone
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The declaration is contained under Proclamation 639
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The property in Barangay Bagong Pook, Malvar has a total area of 98,340 square meters
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Expansion of the Lima Technology Center was approved by Marcos through Proclamation No. 204 on April 19, 2023
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The mixed-use industrial park at nearly 1,000 hectares is located in the Lipa-Malvar area of Batangas
President Ferdinand Marcos Jr. has declared a property in Malvar, Batangas as part of the Lima Technology Center-Special Economic Zone.
The declaration was contained under Proclamation 639 signed by Executive Secretary Lucas Bersamin by authority of the President on July 26.
The property in Barangay Bagong Pook, Malvar has a total area of 98,340 square meters, pursuant to Republic Act (RA) 7916 or the Special Economic Zone Act of 1995 as amended by RA 8748.
RA 7916 defines special economic zones as “select areas with highly developed, or which have the potential to be developed into agro-industrial, industrial, tourist/recreational, commercial, banking, investment and financial centers.”
Companies operating in ecozones receive certain tax and other financial incentives to bring down the cost of production.
Expansion of the Lima Technology Center was approved by Marcos through Proclamation No. 204 on April 19, 2023 by designating several parcels of land located at Barangays Santiago, Luta Sur, and Bagong Pook in Malvar.
The mixed-use industrial park at nearly 1,000 hectares is strategically located in the Lipa-Malvar area of Batangas.
Lima Estate hosts 180 locators, 71,000 employees, and over 4,000 households. It claims to be the first and largest 5-Star BERDE-District Certified Estate in the Philippines, a recipient of the Smart City Award from the ESG Business Awards 2023, and the Best Green Development in the Philippines in 2022 and 2023 from PropertyGuru.
