Fantasy World project gets BOI perks: P1-B tourism facility soon to rise in Batangas
() - April 16, 2001 - 12:00am
The Fantasy World tourist facility located in Lemery, Batangas has been granted incentives by the Board of Investments (BOI).

ECE Realty & Development Inc. is developing the 30-hectare Fantasy World tourist facility at a cost of P1.002 billion. Under the BOI’s rules, the minimum project cost for pioneer resorts is $10 million or P480.6 million.

ECE Realty is a 100-percent Filipino-owned corporation which was incorporated on March 22, 1991 with the Securities and Exchange Commission (SEC). Its main shareholders are the Ching family. The firm has an authorized capital stock of P24 million of which P8 million has been subscribed and P2 million has been paid up.

ECE is developing 30 hectares in Lemery, Batangas, into a world-class resort that is one of its kind in the country.

The project was established primarily as a membership club but the owners decided to develop the facility at an affordable cost to residents of Metro Manila and the southern provinces and other tourists for the purpose of providing, fostering and promoting recreational, athletic, social and cultural activities. Based on the BOI’s ocular inspection last February, certain structures are already in place like the impressive castle and main gate and the access roads.

The main clubhouse and the 504-room hotel and other facilities are still under construction.

The Department of Tourism (DOT) had favorably endorsed the project. It will have such facilities as function rooms, ballroom, coffee shops, game rooms, fitness gym, billiard hall, bowling alleys, karaoke bars, jacuzzi pool and sauna.

Its location – Lemery, Batangas – was chosen because of its mild climate and proximity to Metro Manila. Marianne Go

BATANGAS BOARD OF INVESTMENTS BOI DEPARTMENT OF TOURISM DEVELOPMENT INC FANTASY WORLD LEMERY MARIANNE GO METRO MANILA MILLION SECURITIES AND EXCHANGE COMMISSION
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