Andrew Tan firm on track with P20-B Boracay project

MANILA, Philippines - Global Estate Resources Inc. (GERI) said it is on track with its plan to build the P20-billion Boracay Newcoast integrated resort that is expected to set new standards in the local tourism industry.

GERI is 60 percent owned by tycoon Andrew Tan’s listed holding firm Alliance Global Group Inc., one of the country’s biggest conglomerates, with interests in real estate development, food and beverage, quick-service restaurants, gaming and tourism.

In a disclosure to the Philippine Stock Exchange, GERI said the project, which spans 14 percent of the island, will feature a master-planned layout replete with world-class resort offerings and amenities.

The project will house four world-class hotels with a total of 1,500 rooms, specialty and boutique beachfront hotels, private villas and a variety of health and wellness centers.

Boracay Newcoast will include an 18-hole championship-grade golf course, which is seen to bolster Boracay’s long-term tourism growth, attracting 350,000 more tourists to Boracay each year.

GERI has tapped three international hotel brands plus a local brand to ensure a high level of customer service and satisfaction.

The project’s major centerpiece would be Newcoast Station, an expansive grand plaza and entertainment center, set right at the center of the project’s kilometer-long white beach. The plaza will be surrounded by a luxury hotel block and a retail strip with shops, restaurants and bars.

GERI is positioning Boracay Newcoast as a catalyst for Boracay’s long-term tourism growth.

Boracay once again showcased its strength as an acclaimed international tourist destination.