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U.S.-based
leisure- and entertainment-property developers have
renewed their interest in developing world-class resorts
and retirement havens in the country as they declared the
readiness of the Philippines and its enormous potential to
become a major participant in the ever-growing global
tourism business.
In a
roundtable discussion with the BusinessMirror editorial
and research team, Leon Katz, CEO of Global Investments
and Capital Corp., the business matching arm of the Asian
International Real Estate Expo and Conference (Aireec),
together with other foreign conference leaders, the group
revealed that about 40 US developers, most of whom are
owners of marquee brands in the global tourism sector
which cater to “high net-worth clients” in Asia, Europe,
the United States and the Middle East are set to visit and
inspect potential tourism destinations in Central and
Southern Philippines.
Topping
the list are properties located in Cebu, Boracay, Palawan
and some parts of Mindanao that include Davao and Cagayan
de Oro.
The group
is scheduled to arrive “as early as February next year,”
said Aireec spokesman Romeo J. Pajarillo.
“This
development came in the heels of the recent holding of the
Aireec 2007 in Manila last week,” Pajarillo said. “The
event [Aireec] has created and has built up serious
interest among world-class developers and marketers.”
Anthony
Macaluso, a leading realtor in the United States, together
with Susan Barlin, the Philippines’ special envoy for
investment and tourism promotions and lead organizer of
this year’s convention and expo, told the BusinessMirror
that leisure and tourism development will definitely set
the pace for the Philippines joining the global contest to
capture the ever-increasing number of retirees and
so-called baby boomers.
Macaluso
said these developers are now preparing for the millions
of US “baby boomers,” including retiring Fil-Americans who
would like to retire in tropical countries such as
Panama,
other South American countries and the
Philippines,
in particular.
Macaluso
said the
Philippines
is the “best-kept secret” in the area of tourism and
leisure business. Proper infrastructure and world-class
development combined with its natural and human resource
will definitely give its Asian neighbors a run for their
money,” Macaluso stressed.
“As this
happens, the
Philippines
should venture into nation-branding and should increase
further its efforts in global marketing as well,” he said.
“Its a
double-bladed approach as this [marketing and promotions],
coupled with the nation-branding efforts, will not only
attract tourists and visitors, but will likewise encourage
leading world-class developers to invest in the
Philippines’ tourism-development projects,” he said.
Pajarillo,
meanwhile, announced that a large foreign developer and an
owner of a Philippine island are completing negotiations
to develop the local property into a resort.
The letter
of intent was delivered on December 13 by the potential
buyer to the island owner to indicate that it was serious
with its offer.
The
developer indicated that it would spend some $120 million
to develop a vacation resort. | 
