VALERO Prime Land Realty Development Corp. is investing P336.7 million for its new apartment/hotel project in Salcedo, Makati.

The project, called Citadines Salcedo Makati, will rise on a 940-square meter property on Valero Street. It will be a 37-story tower with 212 rooms.

The Board of Investments (BOI) has approved the grant of incentives to the project as it qualified as a tourism facility.

“This will expand the availability of tourist facilities in the country’s business capital and is in line with the country’s goal of attracting 6 million tourist arrivals by 2016,” Trade undersecretary and BOI managing head Cristino L. Panlilio said.

The project was endorsed by the Department of Tourism on April 25 as an apartelle.

Each unit at Citadines will feature living and dining areas, furnished kitchens and laundry areas, Internet access and DVD player.

Other building amenities include a health and fitness center, swimming pool, tour desk, guest activity/recreation area, room service, gift shop, business center and meeting/conference rooms.

The project proponent is targeting business travelers and foreign and domestic tourists.

Start of commercial operation is scheduled in June 2013 with a manpower requirement of 154 people.