Premiere Horizon investing P1 B in tourism, infra sectors

Iris Gonzales - The Philippine Star

MANILA, Philippines – Premiere Horizon Alliance Corp. (PHA) is investing P1 billion in the tourism and infrastructure sectors.

“The company’s 2017 strategic focus will be on infrastructure and tourism which will strongly support the current administration’s thrust on sustained countryside development where tourism and infrastructure play major roles,” PHA chief information officer and COO Raul Ma. Anonas said.

“The company plans to raise up to P1 billion for the said expansion,” Anonas added.

PHA’s tourism development subsidiary, West Palawan Premiere Development Corp. is raising around P400 million fund its venture into the fast-growing tourism industry. It is in the final planning stages for an integrated township development that brings together serene mountainside and beachfront resorts as well as residential projects located in the emerging West Palawan corridor.

Aside from the township development, WPPC acquired an additional five-hectare beachfront property in Nagtabon Beach.  It is finalizing a comprehensive development plan that would complement the development of its landmark beachfront loop attractions.

Nagtabon Beach is a popular tourist attraction located about 35 minutes from the Puerto Princesa City International Airport.

PHA said the current focus of the Puerto Princesa City government is to make the city a premier tourist destination.

Puerto Princesa City is expected to become a prime tourist haven in Palawan with visitors projected to hit 2.5 million by 2025,  according to the Puerto Princesa City’s Tourism Development group.

Passengers are also expected to increase to more than two million from the current 330,000 passengers a year with the current expansion phase of the Puerto Princesa airport.

Infrastructure unit Redstone Construction and Development Corp., meanwhile, will provide cost-effective site and land development expertise to the tourism project.  It is spending P200 million to pursue other infrastructure ventures.

RCDC expects to broaden its operations to include non-mining construction activities starting with the execution of WPPC’s site development plans.

PHA is also looking at other projects and possible acquisitions with potential partners in the cement, iron, water and energy sectors.

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