Roxas property firm gains control of Punta Fuego developer

MANILA, Philippines -  Roxaco Land Corp., the property unit of listed holding firm Roxas Holdings Inc. (RHI) has acquired a majority stake in Fuego Hotels Property & Management Corp. (FHPMC), the developer of Club Punta Fuego, an 88-hectare premiere luxury seaside resort community in Batangas.

RHI chairman Pedro Roxas said the group, through Roxaco, is aiming to become a major player in the tourism industry.

Aside from Punta Fuego, FHPMC also manages Terazzas de Punta Fuego in Nasugbu, Batangas, 7 Stones Boracay Suites and Boracay Gems in Boracay, Aklan and recently, Camaya Coast in Bataan.

Roxaco is currently developing Anya Resort and Residences in Tagaytay, a six-hectare boutique community that integrates luxury resort facility and exclusive residential estate.

The residential component has been significantly completed and turnover to residents is expected within the year, Roxas said.

As of Feb.17, Roxaco sold 69 percent of the residential lots available for sale.

The development of the resort component, on the other hand, is underway.

Aside from this, Roxaco will also build a three-star resort hotel in San Juan, Batangas.

Roxaco recently launched Land Townhomes, its first townhouse development which caters to the first-home market in western Batangas.

Other residential projects in the pipeline include Palm Estates in Nasugbu and The Orchards in Balayan, both in Batangas.