Philippine real estate firms are considering other island tourism spots aside from current tourist favorite Boracay. Palawan and other areas where the government will be putting up new or expanding existing airports are being eyed.
MANILA, Philippines – Boracay, a favorite tourism destination of tourists, is not being eyed by big real estate firms for future development.
They are considering other island tourism spots, including Palawan, and other areas where the government will be putting up new or expanding existing airports.
At the Asia Pacific Real Estate Investment Summit in Makati on Wednesday, November 14, a panel of executives from key real estate players were asked what areas they consider to be “bright spots.”
Ayala Land’s Antonino Aquino cited their investments in 3 island resorts in El Nido in northern Palawan.
He said they are “encouraged by support of government,” especially in terms of incentives.
He also shared their group’s hopes that “tourism estates [will be] more organized than Boracay.”
When Jose Roberto Antonio, Managing Director of Century Properties Inc., was asked if they are looking at Boracay for their high-end development projects, he replied: “No comment.”
“We’re looking at Palawan, and those that have infrastructure play, like those where airports are being built,” he said.
Read more: http://www.rappler.com/business/16092-palawan-is-next-tourism-bright-spot,-not-boracay-ph-firms