MANILA, Philippines - The Panlilio family’s listed holding firm Boulevard Holdings Inc. (BHI) said it plans to put up casino facilities at its Puerto Azul leisure estate in Ternate, Cavite.
In a disclosure to the Philippine Stock Exchange, BHI said it has received offers from foreign parties to put up a gaming casino business in the resort hotel.
BHI, the owner and operator of Friday’s Boracay Island beach resort in Aklan, Crown One Land Inc. and Friday’s Puerto Galera in Mindoro, said its board approved the inclusion of the gaming casino business in Puerto Azul’s master plan.
The Panlilio family is keen on reviving Puero Azul, which was once dubbed as “Asia’s Paradise Resort” and the “World’s Golfing Capital”.
Under its plan, BHI intends to build 11,563 residential units over a period of 20 to 25 years starting with 350 units of apartment residences. The resort component also involves the development of hotels, golf courses, country club, marina, theme park, sports and recreation facilities.
The plan also includes the renovation of the existing 340-room hotel and the development of an 80-room boutique hotel and 150-room grand convention hotel.
BHI, through a subsidiary, has acquired a 353,810-square meter property in Moalboal, Cebu for P707.62 million.