Anchor Land Holdings Inc. is venturing into tourism business with the acquisition of properties in Boracay and Palawan, two of the country’s top tourist destinations.
Anchor Land vice chairman Steve Li said in an interview following the annual stockholders meeting said the company was now finalizing the master plan and the design for the 26,000-square-meter beachfront property in Boracay and a 3,000-sqm property in Coron, Palawan
“We are now in the designing stage and we will most likely to launch these tourism projects next year,” Li said.
Based on initial plans, the Palawan property will have a boutique hotel while the Boracay property will have a hotel resort and a residential development.
Li said the company decided to venture into tourism projects because of the growing interest from foreign investors and tourists in the Philippines.
“Tourism is a sunshine industry and we have seen a lot of foreign tourists coming to Philippines,” Li said.