Alliance Global unit to spend P20-B for tourism estates

Posted at 06/30/11 12:47 PM

MANILA, Philippines - Global-Estate Resorts Inc., the leisure property arm of Andrew Tan-led Alliance Global Group Inc., has earmarked P20 billion for two major tourism-oriented projects in Boracay and Cavite.

"Boracay Newcoast in Boracay and Twin Lakes near metro Tagaytay [are] both tourism estates featuring an integrated, master-planned layout and world-class resort offerings and amenities," said Alliance Global.

Within Boracay Newcoast will rise four hotels with a total of 1,500 rooms. Globe-Estate said it has tapped three international brands and one local to manage the hotels.

Aside from the hotels, Boracay Newcoast will feature the "Newcoast Station", a grand plaza and entertainment center at the middle of the project's kilometer-long white beach. The plaza will be encircled by a retail strip of shops, restaurants and bars.

In Tagaytay, meanwhile, Global-Estate is spending P5 billion to build the 1,149-hectare Twin Lakes, which is set to be a premier medical and educational tourism destination.

Initial phase of the project will include a vineyard and chateau, hotel and spa, shops, residential villas and condominiums and a sports and country club. Succeeding phases will feature a golf course, more residential projects, international hotels, plantations and botanical gardens, health and wellness centers and boarding schools with medical amenities.