Philippines: Ayala exploring Sicogon Island resort

Philippines: Ayala exploring Sicogon Island resort

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While developing a 300-hectare property in Palawan into a tourism estate similar to those on the more famous resort island of Boracay, Ayala Land, Inc. (ALI) is also scouting for properties on Sicogon Island as part of its thrust to beef up its tourism portfolio, a company official said here on Tuesday.

Antonino T. Aquino, director of Ayala Land who formally stepped down last Monday as its president, confirmed that the company is eyeing Sicogon, a small island off northern Iloilo that is popular for its white sandy beaches.

“We’re looking around (for properties in Sicogon). We’re interested in expanding our tourism portfolio,” he said in an interview.

Mr. Aquino said, however, that nothing concrete has been decided because of agrarian reform-related problems on the island.

Ayala Land recently announced a planned 300-hectare tourism community called Lio in Barangay Villa Libertad in El Nido, Palawan that will be undertaken in partnership with Ten Knots Philippines.

The company held groundbreaking ceremonies for Lio two weeks ago. Lio, which has a three-kilometer beach front, will feature hotel resorts, retail shops and a residential component.

Another tourism-oriented project will be undertaken by Ayala Land affiliate Cebu Holdings, Inc. in Mactan, Cebu.

The 12-hectare development will be a joint venture with the Gaisano-owned Taft Property Venture Development Corp. and will have residential, retail and hotel components.

Business World Online

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