ABOITIZ InfraCapital (AIC) Economic Estates, the infrastructure unit of the Aboitiz Group, recently launched LIMA Tower 1, the first of seven office buildings in LIMA Office Park in the 70-hectare Biz Hub of LIMA Estate in Batangas province.

"LIMA Tower 1 embodies our commitment to creating spaces where businesses can thrive, where people can work in environments that foster innovation and collaboration, and where the future of Batangas as a premier business destination begins," said Monica Trajano, AIC vice president for business development, leasing and sales.

The 11-story building offers 32 office spaces and nine retail spaces covering a total gross leasable area of 25,243 square meters. The property comes with Philippine Economic Zone Authority registration, Building for Ecologically Responsive Design Excellence certification and WELL pre-certification.

LIMA Tower 1 is positioned to cater to business process outsourcing and information technology companies that are looking to expand operations outside of Metro Manila and maximize the talent pool within Batangas.

"This development is a significant milestone in Batangas' growth as a business hub, setting a benchmark for future office spaces in the region and beyond," AIC said in a statement.

In July, AIC announced plans to expand LIMA Estate's Biz Hub with an additional 40 hectares to its existing 30-hectare district, with 21 commercial lots ranging from 1,100 to 2,300 square meters.

The group will spend about P4 billion in a span of four phases. The first phase started construction in June and is expected to be completed by 2026.

AIC, according to parent firm Aboitiz Equity Ventures Inc. in its quarterly report, declared a net loss of P312 million, overturning its P334-million profit due to interest expenses from increased debts for its expansion.

Shares of Aboitiz Equity Ventures recorded a P1 hike on Friday at P34.50 apiece.