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A GROUP
of Chinese businessmen will develop a 661-hectare raw
island in Palawan into an integrated resort, retirement
and medical-tourism facility to cater mainly to members
of the China CEO Club and their relatives.
Susan
Barlin, founder of the CEO Club Philippines and a
special trade and investment envoy, told reporters the
businessmen, who also belong to the China CEO Club, has
already signed an agreement for the use of the island
with its Filipino owner for $75 million.
“That
amount is just for the entry fee. We do not know the
cost of the development yet,” Barlin said.
She did
not disclose the owner of the island and other details
of the contract signed, saying an announcement will be
made by the Chinese businessmen, themselves, when they
visit the country soon.
Barlin
escorted members of the China CEO Club, which has over
2,000 members, led by its president J. P. Ling in
October to the Philippines to shop around for possible
islands for the project.
Barlin
said she will meet with the Chinese executives again in
Hong Kong next month.
The
island that the Chinese picked, she said, is near Coron,
which will be having its own airport soon.
“They
fell in love immediately with
Palawan,” Barlin said.
From its
current “virgin” state, Barlin said the island will be
turned into a big resort complete with amenities,
including hospital, commercial centers, villas and
high-rise hotels and condominiums.
Barlin
said the initial plan is for the China CEO Club to
market the island in China.
Since
the visitors will be Chinese top business executives and
their relatives, Barlin said the standard of the
facility will be grand.
“These
are higher level, real CEOs. So this will be a high-end
facility,” she said.
The
Chinese will be coming in through the airport in Palawan
and then they will hop in to the island through water
taxis.
The
development, Barlin said, will start next year. |
