Premiere Horizon to raise P1B for infra deals
MANILA, Philippines – Premiere Horizon Alliance Corporation (PHA) on Tuesday, January 10, said it will raise P1 billion this year to finance its major projects related to tourism and infrastructure.
In a disclosure to the local bourse, PHA said tourism development unit West Palawan Premiere Development Corporation (WPP) is spending around P400 million for its foray into the fast-growing tourism sector through a township development in Palawan.
Already in the final planning stages, the planned integrated township development offers serene mountainside and beachfront resorts as well as residential projects located in the emerging West Palawan corridor.
The project is master planned by AECOM, the world's leading land use design firm.
The group recently announced that real estate veteran Danilo Antonio, who has over 30 years of experience in the property sector, will head the WPP.
WPP has also acquired an additional 5-hectare beach front property in Nagtabon Beach and is finalizing a comprehensive development plan that will complement the WPP development’s landmark beachfront loop attractions.
Nagtabon Beach is about 35 minutes away via fully cemented roads from Puerto Princesa City International Airport.
PHA infrastructure subsidiary, Redstone Construction and Development Corporation (RCDC), is planning to spend P200 million expansion budget for its infrastructure development projects.
RCDC plans to broaden its operations to include non-mining construction activities starting with the execution of WPP's site development plans.
For 2017, PHA is also currently evaluating several business partnerships and acquisitions in the cement, iron, water, and energy sectors, supported by a financing budget of up to P400 million.
"For 2017 and in the next two years, we are focused in our efforts of creating a significant impact on the country’s growing tourism estates development and in infrastructure that will increase and sustain PHA's shareholder value," PHA president and chief executive Augusto Serafica Jr said.
Serafica said the company’s major projects for 2017 strongly support the current administration’s thrust on sustained countryside development with tourism and infrastructure playing major roles. – Rappler.com