AGI investing $300 million for new Boracay resort

MANILA, Philippines — Alliance Global Group Inc. (AGI) of tycoon Andrew Tan intends to pour in about $300 million for the development of another integrated resort development in the Visayas.

AGI president and CEO Kevin Tan said the group targets to start and open Boracay World Resorts by the end of next year.

Tan said details of the project are still being finalized but noted that the casino component is not going to be very big.

“It will be a boutique casino. Of course we do not want to have a very big structure in Boracay. What we want is just the right size for the island. And we’re also imploring a more sustainable design so that it will go well with the island,” he said.

Tan said Boracay World Resorts is one of the first two expansions outside Metro Manila being undertaken by its leisure and tourism arm Travellers International Hotel Group Inc.

“Nestled in Boracay, the country’s premier tourism spot and the best beach destination in the world according to Condé Nast Traveler, the Boracay World Resorts will elevate the island’s appeal to tourists from all over the globe even more,” Tan said.

“Our group currently owns a 150-hectare township called the Boracay Newcoast and in this area, we have an 18-hole golf course and our own one-kilometer private beach and also close to 2,000 hotel room keys. Travellers is also building an integrated resort with its own villas and hotel suites. This unique feature will elevate Boracay World Resorts to an elite league of destinations and abilities private beach, redefining luxury by seamlessly combining the natural beauty of Boracay with the excitement and sophistication of a modern, integrated resort,” he said.

Aside from Boracay World Resorts, Travellers is also investing about $400 million to develop a new integrated resort in Cebu called the Mactan World Resorts.

Commercial operations of the project is targeted at the end of 2026.

Tan said Mactan World Resorts will be home to a state-of-the-art hotel, resort and a casino.

Once completed, he said the gaming and leisure hub is expected to provide more than 5,000 new jobs to the residents of Lapu-Lapu City and nearby cities and municipalities.

“The Mactan World Resort will be the latest integrated resort to rise in our Cebu township and will be located just 20 minutes away from the Mactan Cebu International Airport, the country’s second busiest international gateway,” Tan said.

Travellers is the owner and operator of the Newport World Resorts, a one-stop, non-stop entertainment and leisure destination and the first integrated resort in the Philippines.