Aboitiz going into resort business

aboitiz-equity-ventures-rappler-20140731_BE8E661A03D742828545C4F7CF975950Spy Bits was informed by a reliable source that the Aboitiz Group is developing a major residential resort in a still undisclosed location in Palawan. We’re told the planned upscale project will be a combination of residential and commercial establishments that feature top class facilities and amenities, with former Aboitiz Transport System president and CEO Endika Aboitiz spearheading the development. We also heard that Endika purchased a couple of seaplanes which will provide the only mode of transportation going to the planned exclusive area. It is unclear, however, whether the project is a personal investment of Endika or if it is under the aegis of the Aboitiz Group whose businesses have certainly diversified, with real estate listed as one of the main categories.

Palawan, known as a “tropical paradise” that has been nicknamed the “Last Frontier,” is attracting a lot of visitors because of its reputation as an environment friendly destination. In fact, El Nido won the “Asia’s Responsible Tourism” award in the recent World Travel Awards because of its commitment to sustainability as seen in the way it strictly implements energy conservation and waste segregation. It also has rainwater storage facilities and a sewage treatment plan to make sure that sewage is not discharged into the sea and thereby prevents water contamination.

Although Boracay continues to be a popular tourist destination, more people are shying away because the beaches have become congested, with the place falling prey to over commercialization just like Baguio.  In Boracay most especially, resort owners are also finding it difficult to cope with the garbage problem that goes with the influx of tourists who treat the beach as their personal waste disposal unit.

As a matter of fact, the President ordered the creation of a technical working group, via a Memorandum Circular issued last year to prevent the further “degradation and deterioration” of the two top tourist destinations because of “rapid growth, commercialization and the lack of a comprehensive development and zoning plan.” 

Let’s hope our friend, Gov. Pepito Alvarez, will follow the lead of Davao Mayor Rodrigo Duterte when it comes to strictly implementing regulations in order to make sure that the pristine and Eden-like condition of this beautiful and bio-diverse “Last Frontier” province is maintained and preserved.

Read more: http://www.philstar.com/business/2014/10/14/1379836/aboitiz-going-resort-business

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