Developer hints on first resort project in Mactan

CEBU, Philippines — Noting a promising outlook for tourism business in Cebu, real estate developer Priland Development Corporation announced its entry to hospitality development.

Priland president  Ramon Carlo Yap said the company is looking at building a resort project in Punta Engaño, Mactan Island by next year.

The company has acquired a beachfront property in Punta Engaño, which will jumpstart the company's entry to tourism-related projects.

At present though, Yap said the company has yet to finalize the project details of the planned resort property, and hinted that they are also open for partnerships with interested hotel and resort chains.

"We are open to partner with foreign chains" Yap said adding that the resort project is only among the many projects on the pipeline.

Recently, an extensive study conducted by research and consultancy firm Colliers International Philippines revealed that accommodation shortage is bound to happen in Cebu if capitalists won’t build more hotel rooms.

Colliers specifically mentioned Mactan and Mandaue as two locations that need more accommodation facilities.

Priland is a member of a diversified group of companies engaged in the business of manufacturing, distribution, and retail for more than 20 years.

Among these companies are Prifood, Conceptology, Da Vinci's Pizza, and most recently Pricon, the construction business arm of the Group. The Group formerly owned the Three-Sixty Pharmacy chain before it was sold to Lucio Co, the owner of Puregold and SnR.

Yap said the company is expanding its real estate portfolio, from residential (condominium), to township developments, economic zone, and hospitality projects. (FREEMAN)