ABOITIZ Construction expects the rest of the year to be busy, given accelerated developments in the industrial sector, and hopes to double its revenues from 2017.
Enrique Chuidian Jr., Aboitiz Construction Inc. vice president for business development, said that while the company has yet to feel the impact of the government’s “build, build, build” infrastructure program, they’ve already projected busy construction activities with new businesses coming in and its sister-companies embarking on expansions.
Expanding its maintenance work for various industries will help the firm double what it made in 2017, he said.
“We are active in the construction partnerships of the different business units of the Aboitiz Group,” said Chuidian, referring to the expansion plans of AboitizLand, as well as maintenance work for mining and shipbuilding firms.
The construction arm of the Aboitiz Group has several projects in the pipeline, including a power plant in Sarangani, a petrochemical plant in Bataan, a mining firm, fabrication works for Korean, Japanese, Australian, and local companies, and its biggest Outlet project so far in Lipa City, Batangas.
Early this year, the company also teamed up with First Balfour to explore potential project collaborations in the Visayas.
A report said the two construction firms will exclusively work together, combining their expertise and resources to pursue prospects in the region and secure contracts.
First Balfour is a Lopez-led company, which started in 1969. Its head office is in Luzon.
Chuidian said that Aboitiz Construction and AboitizLand are working closely together in the creation of thriving communities across the country.
AboitizLand intends to spend P5 billion in capital expenditures this year. It will focus on three Cebu projects: Foressa Mountain Town in Balamban, Amoa in Compostela, and the Gatewalk Central in Cebu City.
Amoa is opening its third phase after two years of sustained sales take-up. The company’s focus to build mid-market house-and-lot projects in the provincial areas.
The real estate arm of the Aboitiz Group is also ramping up its expansion activities in Luzon, both on the residential and retail fronts.
The company is slated to open this year the country’s biggest Outlet Mall in Lipa City, Batangas which is five times bigger than the Outlet Mall in Pueblo Verde in Mactan Island.
The group’s holding company, Aboitiz Equity Ventures, Inc. (AEV) has earmarked P77 billion for capital expenditures this year.
Of this amount, P60 billion will go to its power subsidiaries, up to P5 billion will be spent to strengthen its food, cement, and property businesses, and the remainder will be used to fund its banking unit’s technological improvements.