CEBU, Philippines — The Duros Group of Companies announced to put more of its money in tourism related businesses in the next few years.
In an interview with the Group’s president Fe M. Barino she said apart from expediting the completion of its 200-hectare township in Liloan, Cebu, which is also developing a retirement facility within the property, the company is also building more hotels in Cebu, as well as other tourism destinations in the Philippines.
In fact, next month the company will launch a 38-room resort in Siargao Island in Surigao del Norte, called Gana Siargao Island Resort.
Through the Duros Land Properties Inc., the company had already built big ticket developments all over Cebu, including the 23 Minore Park, a two-hectare integrated facility located on the former grounds of St. John XXIII Seminary in Mabolo, a P25 million project now hosts the Landers Superstore, and soon a host a consumer goods store, and soon the 200-room Minore business hotel.
The company is also the developer of IEC (International Eucharistic Congress) Pavilion, the main event venue of the 51st IEC held in Cebu in 2016.
She said the company is bullish of Cebu, and the country’s tourism sector, the reason why the Group’s diversification is now directed to building hotels, resorts and other tourism related facilities.
In an earlier interview with the Group’s chairman Rafaelito Barino, he said that the company is spending an estimate of P4 billion solely for the development of its five-hectare retirement village located inside the 200-hectare Northside Beacon township.
At present, the township already hosts a school, mid-rise buildings (Park Residences), the Woodland Towers, pocket subdivisions, an 18-hole Golf Course, and soon a hotel.
The company may also consider an establishment of a hospital or clinic to complete the needed requirement for a full-fledged retirement facility.
The Group founded by the Barino couple (Rafaelito and Fe) also has a 30-hectare property in Daanbantayan, with 1,300 meters stretch of beachfront.
Duros Group of Companies headquartered in Liloan, Cebu, is an aggrupation of family-owned companies of diversified businesses to include trade, supply and services for the construction, power, and food industries.
Its real estate arm, the Duros Land Properties Inc., has several landbank reserves in different locations in Cebu province.
It owns among others, a 60-hectare property, and a 150-hectare land in Western towns of Balamban, and Toledo, respectively.