Aboitiz Group

AboitizLand extends 50% discount on rent for Mactan ecozone businesses

Ralf Rivas
AboitizLand extends 50% discount on rent for Mactan ecozone businesses

PANDEMIC. Mactan Economic Zone II entrance. Photo by AboitizLand

AboitizLand

AboitizLand, together with the Mactan Cebu International Airport Authority, will keep rent low for 5 months, as businesses fight to survive due to the coronavirus pandemic

AboitizLand extended a 50% discount on rent for businesses located in the Mactan Economic Zone II (MEZ II), as companies reel from a drop in sales due to the coronavirus pandemic.

AboitizLand, together with the Mactan Cebu International Airport Authority (MCIAA), will keep rent low for 5 months, as businesses continue to suffer from unexpected expenses and struggle to stay afloat amid the recession.

“We share our locator partners’ concerns and we remain committed to helping them survive and recover swiftly from this ongoing health and economic crisis,” AboitizLand industrial business unit head Eduardo Aboitiz said.

MEZ II employs 14,000 skilled workers in 49 multinational companies producing precision instruments, medical equipment, communication and electronics, automotive supplies, apparel, and furniture.

MEZ II is a 63-hectare ecozone in Lapu-Lapu City, which links Cebu to the global export market.  It also houses a commercial corporate building and complements the retail and recreational lifestyle elements of the Pueblo Verde shopping complex, which has over 70 retail stores, services and restaurants, as well as a transit hub.

“It’s important that we work together in this changing business dynamic to help keep the economy moving and continue to provide employment to those depending on the industrial zone for livelihood,” Aboitiz said.  

To date, the Aboitiz group has contributed P1.85 billion for its COVID-19 response efforts, excluding various payments that were waived, reduced, extended, or restructured due to the pandemic.

The conglomerate, like many big groups, has also slashed jobs due to the crisis. – Rappler.com

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author

Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.