AboitizLand extends rent discounts to Mactan ecozone locators


Posted at Jul 17 2020 03:07 PM

The 63-hectare PEZA-registered MEZ II in Lapu-Lapu City. Handout

MANILA - Aboitiz Equity Ventures Inc said Friday its real estate arm would extend a 50 percent discount on rent for locators at the Mactan Economic Zone II to help firms recover from the coronavirus pandemic.

Aboitiz Land and the Mactan Cebu International Airport hope to provide "timely relief" with the 50 percent discount covering rent for a 5-month period, the company said in a statement.

“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.

The ecozone employs 14,000 workers in 49 multinational companies.

Several conglomerates, landlords and malls have offered discounts and rental relief options to help businesses that are struggling due to the COVID-19 pandemic and resulting lockdowns.