November 25, 2017, 1:26 pm
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Premier Horizon to raise up to P500M for tourism project

Listed Premiere Horizon Alliance Corp. (PHA) is raising P300 million toP500 million to fast-track the development of the master planned property of its tourism subsidiary, West Palawan Premiere Development Corp. (WPP).

PHA said it is in the final stages of securing the sale of a five-year redeemable cumulative preferred shares of the same amount of WPP to finance the project.

PHA said its initial foray into the fast-growing tourism sector through WPP is a master planned eco-tourism township that brings together pristine mountain and seaside leisure offerings integrating residential enclaves and retail centers in an ecologically-sustainable development. 

The project is located along the emerging West Palawan corridor and was master-planned by US-based architectural firm AECOM. It is set to become at par with some of the world’s finest next-generation mountain and seaside communities.

“PHA’s investment in WPP is a strategic move consistent with our thrust to invigorate the countryside as we continue to hike up our investment portfolio,” said Augusto Serafica Jr., PHA president.

WPP also purchased an additional five-hectare beachfront property in Nagtabon beach, 40 minutes away from the Puerto Princesa International Airport, which is expected to open next month. A tourism development plan for the area is underway.

For the first phase of the project, the company will develop the Nagtabon beach and north cove pods of the property totaling over 60 hectares as well as the road access. It will also acquire permits and launch an awareness campaign. 

Also in the works is the development plan for the commercial retail areas, installation of floating docks, acquisition of water sports facilities and mobilization of boat rides, cove-hopping, island diving and water sports activities to maximize access to the property’s vast nautical highway feature. 

“Part of the funding will also be used to complete the regulatory permitting activities as well as filing for a tourism estate zone accreditation with Tieza (Tourism Infrastructure and Enterprise Zone Authority) or PEZA (Philippine Economic Zone Authority),” PHA said. 

The project is seen to further revitalize Palawan island as a world-renowned tourist destination.
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