Investment holding firm Abacore Capital Holdings is optimistic that Batangas, one of the country’s fastest-growing provinces, will continue its economic growth in the years to come as they have seen the value of its real estate in the province surged in the past two years due to the rezoning of land driving up values.Abacore President and CEO Regina O. Reyes told stockholders that the company remains hopeful and confident about its long-term growth given its substantial land holdings, which are next to commercial, residential and industrial areas in Batangas.
“It is hard to look beyond the current pandemic due to uncertainties and many variables that may affect our business, but we are still confident that Abacore will continue its 10 percent annual dividend policy,” Reyes said at the recent board meeting of officers and stockholders.
“Unlike Metro Manila, values in Batangas remain stable and provide great value for those looking for capital gain,” Reyes added. According to her, the company’s commercial properties in West Batangas have increased in zonal value by more than 1,000% from two years ago.
As a holding company, ABA generates revenues through dividends from its subsidiaries and other companies where it has interests.
The company’s flagship Montemaria Mother of All Asia Tower of Peace property in Batangas commands good value for investment due to its potential for tourism and industrial growth, according to Reyes.
The landmark real estate project Montemaria International Pilgrimage & Conference Center is a faith-based tourism destination dedicated to Mary, Mother of All Asia. The development was conceived as a destination to attract devotees and pilgrims and through the years, it has become both a tourism and a retirement village.
There is also a world-class township development located in Montemaria called Lombard By The Bay, The residential development overlooks the Verde Island Passage which, according to the United Nations, is the “center of the center of marine biodiversity in the world.” It is located 30 minutes away from the central district of Batangas City, and is accessible by concrete road and by sea.
Despite the surge in land values in the province, Reyes noted that prices are “still a bargain” compared to the cheapest commercial properties in Metro Manila.
“We have seen the trend of logistics and international port container yards being built next to our properties. This has made our properties near or fronting the beach dramatically increase in value and we believe this growth to sustain in the coming years as the province and national government start building their major infrastructure,” Reyes said.
Batangas, due to its strategic location, makes it a natural gateway to the rest of the Philippines as well as the Asia Pacific Region, enhancing the province’s potential in industrial, residential and tourism development.
Abacore will reportedly continue to sell its land assets and reinvest a portion of the cash from the sale of land in joint ventures with recurring revenue. The company also remains on the lookout for properties in Batangas, which it sees as the next Metro Manila due to the presence of high end residences, commercial businesses, educational institutions and industrial growth.