Developer puts on hold projects in three islands

CEBU, Philippines - Enrison Holdings Inc., has put on hold its planned projects in the islands of Camotes, Malapascua, and Olango in Cebu due to weak business feasibilities.

Company president Grand Benedicto said the firm has already earmarked multi-billion peso investments for the resort projects on the three islands, but had to re-think the proposals due to infrastructure concerns and weather instability as among the factors.

The company, which is already operating two resorts in Mactan and Panglao Island will instead focus momentarily on the expansions of its existing properties, as these provide good business returns.

Although these islands have been considered as Cebu's jewels in tourism, the stable transportation facilities that connect these islands from the mainland is one of the hurdles why influx of tourists are not yet fully developed.

Meantime, the company will wait for the right time for these islands to be profitably inviting for big ticket resort investments.

"Malapascua, for instance, is weather dependent. We feel it is a seasonal market and it's difficult to put up a proper hotel there as of the moment," Benedicto said in an interview, emphasizing that these concerns will espouse unsustainable business.

Part of the company's plan is to build a villa-concept resort accommodation of about 30 to 40 units in Malapascua, as well as another 30 villas in Talima, Olango Island, but while the potential for growth of these islands are promising, Benedicto said the company will wait until issues on infrastructure (accessibility) will be addressed properly with consideration of the unpredictable weather condition all-year-round.

Instead the company will divert the funds to expand its Bohol property–Be Grand Resort in Panglao, Island, and P100 million for renovation of the Be Resort in Mactan Island.

Early this year, Cebu Association of Tour Operator Specialists (CATOs) president Alice Queblatin said Camotes and Malapascua as the two most popular islands for both domestic and foreign tourists.

According to Queblatin these islands are strongly gaining prominence among tourists across social status around the world, after Cebu made its name as the fifth best islands in the world based on 2016 Readers' Choice Awards of the international Conde Nast Traveler in October last year. (FREEMAN)