Landco enters tourism market

Veering away from its posh and exclusive leisure homes markets, Landco Pacific Corp. is entering the tourism-oriented and mixed-use land development for its expansion projects in Quezon and Batangas.

For starters, Landco has just recently forged a joint venture deal with the Escudero family (of Villa Escudero) for the development of 400 hectares family property in Tiaong, Quezon which Landco hopes to launch by the second or third quarter of 2006, said Francis V. Ceballos, Landco’s Executive Vice President and Chief Operating Officer.

The property crosses through Tiaong and Dolores in Quezon province and San Pablo in Laguna.

"We will be using a mix of the different products and uses we have done so far. Our objective is to make this place a tourism destination and resort south of Manila," Ceballos said.

Landco is looking at a mix of first and second homes, tourist destination facilities, commercial facilities (including malls) and leisure farming. "We will capitalize on our strengths," he said.

"We are veering away from the exclusive clubs and resorts to a more open and participatory tourist destination for both the local and foreign tourists and transient residents," Ceballos said.

Where before we just had very exclusive home ownerships in these residential resorts, now we are using a combination or home ownership plus tourism and club ownership as our way of opening up to the market, Ceballos said.

Next is the 100 hectares Palacios family estate in Calatagan, Batangas with an option to expand in another 100 hectares adjoining properties also to be developed by Landco into a tourist destination.

"Calatagan as you know is the classy ranch and secluded address for rich groups and families and has been largely fended off from local tourists," Ceballos said.

Landco will adopt in this area the beach resort development of Punta Fuego (its high end and exclusive second home project in Lemery, Batangas) as the starting point but it will also blend with the unique land character and destination value of Calatagan as the sanctuary of the rich and famous.

As such there will be hotel-type day-time facilities for foreign and local tourists or transient residents (those that would check in for a number of days) and improved accessibility for bigger convention and special events markets.

For both destinations, development will begin next year and once in operation, Landco is pinning its hopes of doubling its revenues and profits from their operations.

Landco is also now expanding further its existing projects in Ponderosa and Punta Fuego with joint venture arrangements with the De Venecia family (through the Speaker’s company, First Agro Dragon Inc. for 16 hectares) and the landowners in adjoining properties. "We are in constant dialogues with them," he said.

Landco also has a joint venture agreement with Capitol Golf & Country Club for the development of 98 hectares first home project in Montalban, which is accessible through the Quirino Avenue in Quezon City. This will come in combination of house and lot packages or lot only.

"Landco has performed well in 2003 and 2004 even if our inventories (of developed properties) and sales are now almost complete. Our booked sales in 2004 reached P2.5 billion," Ceballos said.

"By 2007, we expect to double our revenues and bottomlines once these projects start operating as tourist destinations and mixed-use projects," he added.

"The hotel and tourism business is our future and we can not ignore this. At the same time, Landco would like to pitch in what it can to help the government raise revenues from its development projects particularly geared towards tourism," Ceballos stressed.

Landco is still waiting for infrastructure developments in the north, which was affected by Mt. Pinatubo in the nineties. "We have projects lined up in the joint ventures we are about to forge in the north," Ceballos said.

"We are looking at places like Bulacan and Pampanga, where there are a lot of potentials for second homes or weekend homes," he added.

Landco–just like most other high end land developers–is tapping the cash-rich markets of Filipino-Americans in North America, who are scouting for investment opportunities and retirement homes in case they decide to settle permanently in the country.

To get this market, Landco plans to promote their property developments via roadshows and international exhibits in America, Canada, Australia and other areas where Filipino professionals abound.

"We can not ignore this market’s awesome economic power. The best we can do is to tap this market for our projects for the benefit of the entire country," Ceballos said.

Landco Pacific Corp.

3F Centermall Bldg.

51 President’s Avenue

BF Homes,Parañaque

Tel : 8072232