Group to build RP’s first seven star hotel

A joint partnership of Filipino and Chinese businessmen will build the country’s first seven star hotel possibly in The Fort or in the reclaimed area in Roxas Boulevard.

“The seven star hotel will be similar to the one in Dubai,” Susan Barlin, co-founder of the CEO Club Philippines, said in an interview.

The project dubbed as the Pentominium, will be a combination of retail outlets, offices and penthouses.

The 35-story luxury hotel is an exclusive hotel given that the occupants will mostly be members of the CEO club. “They will use the hotel whenever they visit here either for a vacation or business,” Barlin explained.

According to her, the group is in the process of choosing a possible location. “We are considering two areas but we prefer to build at The Fort,” she added.

In The Fort, Barlin said they are negotiating with two parties. One land they are eyeing is government owned while the other is owned by a private entity.

Barlin explained they would need at least 2,000 square meters for the seven-star hotel. If everything falls into place, she said ground breaking will be scheduled for the first quarter of 2008.

The Pentominium is one of the eight hotels the 13 man Chinese business delegation visiting the country is considering building.

The other hotels will be in tourist destinations like Bohol, Palawan, Tagaytay and Cebu. The rest of the hotels will be five star hotels.

Meanwhile, Barlin said the botched broadband deal between the government and China did not dampen the Chinese’s desire to invest in the Philippines.

“We are making new deals. We do not want to let politics interfere with progress,” she said.

Aside from hotels, Barlin said the visiting Chinese investors are also interested in developing a retirement destination for Chinese elderly in one of the islands.

“The Chinese would like to develop a retirement destination in the Philippines. They would like to build first class amenities in a beachfront property for their elderly,” she said.

She said in two years time, the country has the opportunity to earn $40 billion from the retirement industry which include income from tourism.”The children of the retirees will want to visit their parents and then take some time off themselves,” she said.

According to her, the infrastructure needed for the Chinese Village will take two years to build. However, the benefits from tourism will accrue immediately.

The amenities for the Chinese Village will be strictly first class. The island will have its own airport, hospital, hotel, nursing home and other facilities to make the retirees comfortable.

The Chinese only island will cater to the parents of the Chinese elite which makes up 10 percent of the entire population.

Beijing Capital City Real Estate Development Co. Ltd. is interested in building the project with a Filipino partner.