Landco Pacific Corp. is budgeting P3.5 billion to develop properties ideal for tourism and as second homes for wealthy individuals.

Landco executive vice president Francis V. Ceballos said the company is rebranding itself as a developer for high end individuals.

Landco has calendared seven new projects including a new hotel in the Visayas and new development at the famous Villa Escudero resort.

The hotel in the Visayas will be called Playa Calatagan Resort and Hotel in a beachfront property.

Alfred S. Xerex-Burgos, Jr., Landco president, said the company is focusing on the leisure niche where demand comes from Metro Manila residents looking for second homes.

"We have an edge on this market and not many products equal ours", Burgos said.

"The urban communities at the same time also generate a lot of consumer demand while the hometown communities continue to have demand from overseas Filipino worker," he added.

Ceballos also said that the effect of the current trouble in the US still "remains to be seen" in the local market.

"Landco has started construction of a 67 room hotel to be completed this year. The original plan is to have a 200 room hotel," said Ceballos.

Ceballos also said that the Landco intends to develop a new destination in Hacienda Escudero estate in Laguna, location of the known Villa Escudero, to be called Hacienda Escudero Agritainment Park.

Ceballos said the "agritainment" establishment would complement the attraction provided by Villa Escudero.

Landco meanwhile is adding two new developments on its Leisure Communities projects with the unveiling of Playa Laiya in San Juan Batangas, and Playa Azalea in Samal Island in Davao.

Playa Laiya is set to be launched before end of the first half of the year while Playa Azalea is eyed for launch by the second half. Three new projects meanwhile will be included in Landco’s hometown communities segment with the launches of WoodGrove Park in Pampanga, Woodridge Zamboanga, and Courtyard in Cabanatuan, all to be launched before June.

Landco income for 2007 posted a P261.2 million bottomline compared to a P13 million net loss the prior year, as a result of a restatement of the company’s financial position due to the adoption of the "percentage of completion" accounting method.

Landco revenues went up 191 percent to P2.08 billion from P712.4 million after completing projects like Ponderosa Leisure Farms, Amara en Terrazas, Playa Calatagan, Leisure Farms, Terrazas de Punta Fuego and Montelago.