Although Hong Kong offers a promising business environment for his family’s 40-year-old jewelry/diamond business, young entrepreneur Martin Phillip S. Yeung finds another jewel in Cebu— the tourism advantage.
Born and raised in one of Asia’s major business district—Hong Kong, Martin is fascinated by Cebu’s potential of becoming a major destination for the world’s discriminating travelers, who are looking for unique and inviting ambiance, away from the already well-known tourists attractions like Thailand and Indonesia.
Martin is now helping his father’s diamond trade in Asia. While continually gaining profits in this established jewelry business in Hong Kong, this 27-year-old, US-educated entrepreneur will spend multi-million dollar investments to create another landmark for Cebu, to develop the untouched islets in the northern side of the province, specifically the Malapascua Island.
“There are few outskirts islands that have huge potential to attract high-end tourists from all over the world. Malapascua itself can sell—its picture perfect,” he said.
With permission from his father Diamond King Carlos Yeung, Martin will start a series of boutique resort developments off the northern coastline in Cebu, starting with Daan Bantayan, with the establishment of “Kandaya Hotel.”
While maintaining his businesses in Hong Kong, Martin has decided to put more of his time in Cebu—to realize his dream of putting Cebu to the upscale tourism map, including a possibility of attracting Hollywood celebrities, and millionaire travelers.
Aside from Kandaya Hotel, Martin’s biggest project in the next few months is to develop his family’s huge estate in Malapascua Island.
“Our family owns huge property in Malapascua which covers most of the beachfront on the island,” he said.
This super-upscale project, will build villas on the sea, “just like in Maldives,” he described. The floors would be made of glass to enable one to view the sea from inside the villa.
Diving will be one of the major water-sports activity highlights in this expensive resort, he said. Using Malapascua as the jump-off site, tourists will be toured to different alluring diving sites in Cebu and Bohol seas.
Martin, who practically grew up and learned the fine jewelry trading, will now apply this expertise in creating some potential sites in Cebu to be crafted just like an expensive fine jewelry.
“Cebu is a jewel. Everything will be made possible if you have the creativity. I have a lot of plans for Cebu. The business is here,” he said.
He now starting to take-over the Diamond empire business of his father, Carlos, while also hands-on in the operations of the different subsidiary businesses of MSY Holdings, which businesses included real estate projects in Cebu.
In Hong Kong, Martin owns a premium jewelry retail store called Rockcandy, apart from being the top executive of his family’s businesses there, the Fairway Diamond Co. Ltd., and Simplexdiam Co. Ltd.
Since childhood, he only came to Cebu to visit, being the hometown of his mother Mariquita. Slowly as he learned the art of business, he has seen the huge potential of Cebu to take the spotlight as the world’s most desirable destination.