Aboitiz unit allots P24b to buy towers, build estates

Aboitiz InfraCapital Inc., the infrastructure arm of the Aboitiz Group, said Monday it allocated P24 billion this year for tower acquisition and development of economic estates.

West Cebu Estate is a 540-hectare mixed-use development in Balamban, Cebu, while LIMA Estate is a 794-hectare Philippine Economic Zone Authority -registered development with over 60,000 employees.“For Unity Digital, we’re hoping to close the acquisition of the towers from Smart and Globe within the first half of this year. And then we’ve allocated some capex as well for the regional airports,” Canilao said.

AIC secured the original proponent status for the upgrade, expansion, operations and maintenance of the Laguindingan International Airport, which is undergoing Swiss Challenge.

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