Alturas Group invests P25 billion on Panglao township project

PANGLAO ISLAND, BOHOL, Philippines — The Alturas Group of Companies, through its subsidiary Panglao Bay Premiere Parks and Resort Corporation, announced the development of a P25 billion seaside township in Panglao Island, Bohol.

The 50-hectare, Panglao Shores Bohol, is a 10-year masterplanned project, the flagship Tourism Enterprise Zone (TEZ) of Tourism Infrastructure and Enterprise Zone Authority (TIEZA in partnership with private sector.

Panglao Bay Premiere founder and chief operating officer (CEO) Hope Uy said this project is seen to provide at least 10,000 jobs to Boholanos.

The first township ever built in Bohol province, Panglao Shores builds 500 residential condominium units a combination of holiday homes, second homes or resort condominiums, the second Palms Resort Panglao, an International Convention Center, Town Square Retail Mall and Night Market, Beach Club, branded luxury resorts, farmers market, co-working space facilities, community green spaces and integrated parking, an international medical care, and a school facility.

Next year, 2024, the company targets to open the first resort to open on the township together with the construction of phase 2 that will have the commercial component, Uy said.

The company is inviting real estate developers to locate in the area.

Locators are assured of fiscal and tax perks as an accredited TEZ project.

According to TIEZA-TEZ Management Sector assistant chief operating officer Atty. Karen Mae Sarinas-Baydo, the Panglao Shores project kicks of the government’s active partnership with private sector in developing more tourism related investments around the country.

Sustainability

As a fighter for sustainability, Uy vowed to take a careful stance in building a sustainable project, which she said would be the cornerstone of the entire development.

An active mover for green recovery of hotels and tourism operators, Uy said her company has tapped global experts to help the project’s ambition on providing world-class sustainability ecosystem, such as Bill Barnett, managing director of C9 Hotelworks based in Thailand, and the co-organizer of Phuket Hotels for Islands Sustaining Tourism (PHIST), the Southeast Asia’s biggest and best responsible travel and hospitality forum, and Singaporean design and innovation experts, whose expertise is on building globally acclaimed sustainable projects.

According to Uy, from construction to operation, Panglao Shores is dedicated to sustainability and to maintaining

Its position as the frontrunner in local economic development through diversified teams and a community-focused ethos. This includes a commitment to actively reduce waste and water consumption, to protect and conserve the local coral reefs and to support Bohol's vibrant community of artisans and food vendors.

Panglao Bay Premiere Parks and Resort Corporation operates the South Palms Resort on Panglao Island, and the nine-hectare South Farms—an organic agro-agri farm born during the pandemic.

Uy revealed that South Farms will continue to expand and maximize the total 50-hectare property primary to meet the rising demand of farm-to-table supplies for its growing hospitality business.