Developer unveils new mountain town project

CEBU, Philippines - Aboitiz Land Inc. strengthens its foothold in the Cebu market as the company unveils a 300-hectare mountain town development project in Balamban.

The Foressa project is aimed at the high-end market.

The firm said the project is designed to introduce a different outdoor living in Cebu's mountain part.

Balamban, once a sleepy community, is only an hour and a half from the city through the picturesque Transcentral Highway, a scenic road trip offering cool weather, fresh air, lush landscapes and bird’s eye views of neighboring areas and islands.

Popularly known as the “Ship Building Capital of the Philippines,” the town presently has a growing ecotourism that needs to be further developed.

The town's tourism activities include climbing Mt. Manunggal and visiting the Magsaysay Shrine; savoring the famous Balamban liempo; swimming at the Cambuhawe Springs; zip lining or rappelling at any one of the mountain resorts in the area; camping out or trekking to the Gaas waterfalls.

Aside from its famous beaches, Cebu tourism has more to offer in the vast highlands of the island, where mountains, gently sloping hills and rivers serve as gateways to various eco adventures.

In addition, the company also plans to develop Lekeitio, a 400-hectare mixed-use township project in Cebu. It will feature residential, shopping and entertainment, school and office, transportation, and community spaces.

Aboitiz Land saw its earnings contribution to its parent firm Aboitiz Equity Ventures declining 65 percent from P536 million to P188 million because of deferred industrial business unit revenue recognition, planned increases in operating expenses intended for the organization’s future growth. (FREEMAN)