Boracay’s image is soon getting a much-needed improvement, thanks to a P15-billion project of business tycoon Andrew Tan that hopes to serve as a catalyst for the island’s long-term tourism growth.
Global Estate Resorts Inc. (GERI), a subsidiary of Tan’s Alliance Global, is developing Boracay Newcoast into an integrated, master-planned and world-class resort complete with residential communities, a golf course, hotels, shopping and dining areas, among others.
GERI claims to own and control the single largest piece of landbank in Boracay covering 14 percent of the island-resort through a partnership with First Georgetown Ventures Inc., a company owned by businessman George Yang.
It is likewise claimed that buyers of property at Boracay Newcoast can boast that they own titled property, something that sadly cannot be said for other developments in the island.
Earlier, GERI said that it is positioning Boracay Newcoast as a catalyst for Boracay’s long-term tourism growth and that in redefining the leisure and holiday experience, the project is set to consistently help attract 350,000 more tourists to Boracay each year.
What’s in store
There are actually five properties being offered at Boracay Newcoast.
Oceanway Residences offers is a mid-rise condominium with the units located between the 12th and 13th holes of the Fairways & Bluewater golf course. The fully-furnished units, ranging from 40 to 126 square meters and consists of one, two, and three bedrooms, are selling for around P165,000 per sq m or about P6.6 million for a 40 sq.m. units.
New Coast Village is considered the first exclusive village in Boracay, with the titled lots ranging from 250 to 590 sq.m.
Meanwhile, the Shophouse District offers mixed residential-commercial lots (also titled) whose sizes range from 300 to 700 per sq.m. Buyers can put up three-storey structures. The ground floor can be developed into restaurants, bars, retail stores at the ground floor while the upper floors can have rooms for rent.
The Boutique Hotel District consists of titled lots ranging from 600 to 950 sq.m. which are available to buyers who may want to put up hotels with their very own private beach front.
Another investment option is Savoy Hotel which allows investors to lease back the units to a property management outfit that will lease out the units for them. Investment at Savoy is about P6 million per unit.
Other features
Based on the site development plan, Boracay Newcoast offers endless possibilities for global tourism, real estate investment, retail business, hotel pampering, and holiday recreation.
In addition to the existing private beach, future plans include an exclusive beach, three hotels namely Richmonde Hotel Boracay, Maxims Hotel, and Courtyard by Marriott Hotel, two other international brand hotels, a boardwalk, a church, a commercial area, a leisure center, a wellness center, a transport terminal, among others.
Then of course there are the existing exclusive villas and the 18-hole Graham Marsh-designed championship golf course.
A key feature of Boracay Newcoast is Newcoast Station, described as an “expansive grand plaza†and entertainment center right at the center of Boracay’s famous white beach. The plaza will be encircled by a luxury hotel block and a retail strip with shops, restaurants and bars.
With the Caticlan Airport soon to be expanded and upgraded to allow it to accommodate bigger aircraft like Airbus A320s, thanks to a PPP project being undertaken by the San Miguel Corp. group, Boracay will never be the same again.
Soon, it will not just be about D’Mall, or the monstrous human traffic along the coasts of Stations 1 and 2, or flight delays, or the obvious lack of development planning by Boracay’s local government.
World-class tourism is about to be unveiled.
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