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Japanese developer outlines projects for Cebu, Palawan

CEBU, Philippines - Renowned Japanese real estate developer I Land Way Corporation is now eyeing Cebu and Palawan as its main expansion pads outside of its home country, banking on the robust real estate and tourism industries of the two island provinces.

The company has already mapped out a 10-year tourism and retirement-related investment plan for Palawan and Cebu, through its Philippine registered company I Land Way Philippines Inc., said manager Haruna Yamaguchi.

"We see a big potential for investments in the Philippines," Yamaguchi said explaining further that Japan is already nearing a point of saturation and cost of doing business is going high.

The company established its office in Cebu in 2013 and since then, it had built three condominium developments in Cebu namely the Romah condotel in barangay Busay, the high-end resort residences in Punta Engaño, Mactan called The Reef, and the upcoming condotel project located adjacent to The Reef, the South Reef.

Just last month, the company launched in Puerto Princesa, Palawan the over 25-hectare mountain resort and park dubbed Sapphire Hills Resort, which is managed and operated by its sister company World Ai Corporation.

Three more resort projects are on the pipeline for Puerto Princesa and these include Shojin Resort and Casa Blanca del Amor.

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Yamaguchi said there is also a possibility of developing retirement facilities in both Cebu and Palawan for the Japanese market.

The company is seeing a fertile ground for tourism investments in the host province of acclaimed world's wonder subterranean river and other Philippine tourism icon destinations like the islands of El Nido, Coron, among others.

Cebu on the other hand continuously offers lucrative business for condominium developments as well as retirement facilities.

Aside from the growing Japanese who are eager to buy properties in the Philippines for second home and retirement options, the rising interest of Japanese families going to the Philippines to learn English language also fueled the attractiveness of the country as center of interest among Japanese capitalists.

I Land Way Corporation is one of the largest residential/condominium and nursing home developer in Japan. The Philippines is its first overseas investment site. (FREEMAN)

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