Aboitiz Land, Inc., the real estate arm of the Aboitiz Group, and the Mactan Cebu International Airport Authority (MCIAA) have extended a 50 percent discount on rent covering a five-month period to industrial locators inside Mactan Economic Zone II (MEZ II).
In a statement, Aboitiz Land said this is part of its efforts to help the country rebuild amidst the crippling economic impact brought by the Covid-19 pandemic.
The discount is mean to ease the pressure on locators as they reel from a drop in sales and unexpected expenses to continue operations under community quarantine guidelines.
The pandemic and the enhanced community quarantine have forced manufacturing businesses to adapt to production demand changes, labor support challenges and supply chain ecosystem constraints.
“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.
He added that, “We believe that this assistance, along with the support we have extended over the past 25 years, will be reciprocated by our locators through their continued commitment to the Philippines and to the people of Cebu.”
“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 noted.
MEZ II employs 14,000 skilled workers in 49 multinational companies belonging in light to medium industries that include precision instruments, medical equipment, communication and electronics, automotive supplies, apparel, and furniture.
Established in 1995 in partnership with MCIAA, the 63-hectare PEZA-registered MEZ II in Lapu-Lapu City highlights Cebu in the global export market. The industrial zone is part of a sprawling mixed-use estate, which also houses a commercial corporate building that 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.