Boulevard Holdings nears completion of Puerto Galera project

MANILA, Philippines - Listed property developer Boulevard Holdings Inc. (BHI) said it expects to complete by June the expansion of its resort project in Puerto Galera.

In a disclosure to the Philippine Stock Exchange (PSE) yesterday, BHI said it would expand its Friday’s Boquete Beach Resort in Puerto Galera, Mindoro Oriental to 62 rooms from only 32.

“We have expanded the property’s Phase 1 from 32 keys to 62 keys, projected to be completed by June 2013. Whereas, some 20 keys, landscape, swimming pool, dive shop, multi-purpose dock, and restaurant will be delivered in mid-March,” BHI said.

The company said the Puerto Galera resort is even bigger than its Friday’s Boracay resort.

“In relative comparison, Friday’s Boracay has 50 keys, so BHI has mandated its planners, advisers, and project managers to deliver bigger and more rooms, in line with growing the mother company’s revenues,” it also said in its disclosure.

As an added attraction in the Puerto Galera resort, BHI said there is a long coral barrier reef across the resort and within the lagoon, where visitors do snorkeling activities.

The company earlier targeted to open the Mindoro resort as early as January this year but said construction delay as a result of inclement weather pushed back schedules.

The 3.8-hectare resort also has a restaurant, outdoor pool, dive shop, gym and spa treatment pavilion.

BHI earlier disclosed that it expects to generate revenues of P15 million on opening month.

BHI, through its unit Friday’s Holdings, is the owner and operator of Friday’s Boracay Beach Resort in Aklan.

The company and its subsidiaries, owned by businessman Jose Panlilio, develops real estate such as leisure, hotel, and tourist estates, as well as residential and office condominiums.

Last year, the company planned to revive Puerto Azul, a leisure estate in Cavite, which was once dubbed as Asia’s Paradise Resort.