Ayala Land Inc. is set to start the construction of a sprawling tourism estate in El Nido, Palawan . Antonino Aquino, Ayala Land president, said the groundbreaking for the project in Barangay Buena Suerte, El Nido, has already been set in late March. The leisure resort, which has a 3-km beachfront right beside an
Ayala Land Inc. is set to start the construction of a sprawling tourism estate in El Nido, Palawan
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Antonino Aquino, Ayala Land president, said the groundbreaking for the project in Barangay Buena Suerte, El Nido, has already been set in late March.
The leisure resort, which has a 3-km beachfront right beside an airstrip, will be the company's 5th in Palawan province, as Ayala Land steadily acquired land in Palawan over the past years.
Aquino said the company aims to pursue a hotel and residential development in the property that will be designed like a “resort village all along the coast.”
The other leisure- and tourism-related ventures of Ayala Land include Lagen Island Resort, Miniloc Island Resort and Pangulasian Island Resort, all owned and operated by El Nido Resorts.
In 2010 Ayala Land started buying into Asian Conservation Co. (ACC), the owner of the El Nido Resorts. The company later on bought the entire ACC.
Ayala Land is working to expand its tourism-related business that it earlier identified as one of the growth engines of the country, as it works to expand its footprint in several locations in the Philippines.
Ayala Land aims to develop a total of 1,000 hectares of tourism-estate properties in choice parts of the country.
Revenue from its hotels and resorts grew by 64% to $89 million in 2013 from $54.8 million the previous year, primarily driven by contributions from new hotels and resorts.