Alphaland to develop 500-hectare leisure township near Boracay

12/07/2010 | By: James A. Loyola, Manila Bulletin
MANILA, Philippines – Alphaland Corporation, a property developer controlled by business tycoon Roberto V. Ongpin, has signed an agreement to develop a 500-hectare property owned by Ambassador Francisco Alba beside the Caticlan airport into a fully-integrated leisure township.

In a disclosure to the Philippine Stock Exchange, Alphaland said it entered into a development agreement with Akean Resorts Corporation (AKC) which is an affiliate of the Prudentialife Group of Companies headed by Alba.

The agreement covers the development of around 500 hectares of land owned by ARC in the Municipalities of Nabas and Malay in the Province of Aklan into a master planned resort community to be called Alphaland Boracay Gateway.

The parties have agreed that ARC will contribute the property while Alphaland will provide the necessary funding, equipment, materials, supplies, development works expertise, management, labor, supervision and related undertakings (including the acquisition of additional parcels of land in the area if required) to develop and transform the property into the project.

The project, a resort complex consisting of residential and commercial developments, will be anchored by a Polo and Country Club and is designed to be a fully integrated leisure township development with a wide range of components.

These components will include hotel and other accommodations, as well as water sports and other recreational facilities, and large, top-of-the-line homesteads, Alphaland said.

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