Business
Filipino businessmen eyeing Coron as “Next Big Thing” in RP’s tourism
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Nov 18, 2008 - 3:13:06 PM

CORON, Palawan, Nov. 20 (PNA) -- Filipino businessmen engaged in tourism industry are eyeing a piece of land here in Coron as they considered this island town as the “Next Big Thing” in the country’s tourism.

More Filipino investors are putting up their investments, building island resorts in Coron, board member and Philippine Councilor’s League (PCL) Palawan Chapter president Jim Gerald Pe told PNA.

Pe, a native of Coron, said some businessmen already acquired tropical islands, beach front properties, residential lots and other real estate properties in preparation to the rosy development of tourism in this island town.

He said one of them is Salvador Zamora who partnered with the Banyan Tree Holdings Limited (Banyan Tree) who is pushing its $ 70-million island resort project in Dinaran Island here.

Banyan Tree Holdings and Global and regional hotel chains as industry leaders Accor are also rushing to open hotels and resort in northern Palawan.

The 55-hectare uninhabited Dinaran island is surrounded by stretches of white-sand beach which is just 15 minutes away by speedboat from the town proper.

Other businessman is William Gatchalian, who owned Waterfront Properties Inc., plans to invest P5 billion to develop an island here into a resort, gaming and residential V complex.

The island, Uson, is one of the cluster of islands in the northern tip of the province.

The 1,200-hectare island will be Gatchalian’s first venture into resort development and it is part of Waterfront’s plan to have 20 hotels in two years from its current portfolio of eight hotels and casinos.

Gatchalian said initially, P2 billion will be spent for Uson to build three first-class hotels with 300 rooms each on one-half of the island.

Other investor is Esteban Tajanlangit, owner of luxury ship M/V 7107 Island Cruise, already acquired the island of Ditaytayan, Malcapuya, Demanglet and other islands.

The cruise ship docked here last Aug. 27, but since then, has not sailed because pending problem with the Bureau of Customs.

Pe described Tajanlangit as “tourism locator”, because he promotes the development of “tourism triangle” that include Calamianes Group of Islands, Puerto Galera and Boracay.

He added the property value of an island has increased compared to previous years.

Pe said two to three years ago, it was only P250 per square meter, but now, it cost more than one thousand pesos per square meter.

Price of commercial property in the Calamianes is dependent on size, terrain, distance to mainland, quality of beach, he added.