Developer resets plans based on market needs

CEBU, Philippines – MSY Holdings Corporation is now drawing up plans for more tourism related investments in Cebu following the success of Kandaya Resort in Agujo, Daanbatayan, but this time the project is determined according to what the market dictates.

Company president and CEO Martin Philip S. Yeung said another resort project will be launched this year in Malapascua Island, in the northern part of Cebu.

Yeung said MSY Holdings will invest on a facility that will cater to the frequent visitors of Malapascua, which include divers, backpackers, and beach and nature lovers.

The company initially planned to build a super high-end resort on an idle family-owned property in Malapascua, however, Yeung said the plan has been changed to suit the actual need of the market.

"Now that I am living here and personally running the business, I can see through the eyes of the locals. We have to make something that will work," he said.

The family owns a huge hectarage of property on the island. The resort plan will be built on the beachfront property, Yeung said.

Aside from resort facilities, and maybe hotels in the near future, Yeung also mentioned the family's interest to enter the profitable restaurant sector in Cebu.

He added that also this year, in collaboration with his sisters, the company will open a fusion restaurant outlet at the newly opened MSY Towers located at the Cebu Business Park.

This restaurant venture will kick off the company's plan to develop a restaurant chain, in partnership with an established restaurant group.

MSY Holdings invested over a billion pesos for the 12-hectare development of Kandaya Resort.

Kamdaya is the first posh boutique resort to be built in the northern outskirt of Cebu, which offers 18-room luxury accommodation, and 40 villas.

The resort is positioned as health and fitness luxury resort that suit the demands of growing active and health-buff people. It also highlights the promotion of putting luxury on Cebu’s culture.

The Group's tourism investment plans will go alongside its huge investment interests in residential and commercial building developments within Cebu.

The company owns roughly over 150-hectare properties spread within Cebu province, majority of which are located in the northern part. (FREEMAN)