The Market Monitor Minding the Nation's Business
Listed Premiere Horizon Alliance Corp. (PHA) has completed a 15-percent equity placement with strategic investors in West Palawan Premiere (WPP) development worth P800 million covering its current Palawan landholdings hiking PHA’s stake in WPP to 85 percent.
WPP is the mountain and beach side lifestyle community development of PHA in Puerto Princesa City covering 576 hectares.
“The full implementation of the WPP Phase 1 plan has already started and more visible developments will be seen by the first quarter of 2017,” PHA reported to the bourse.
The investment holding company has engaged AECOM, the 2015 Best Global Designer, for WPP’s comprehensive Master Plan which is set to be finished by January 2017.
The environmental scanning and best land use study undertaken by Vertex/Leechiu is expected to be completed this month.
WPP is also in the process of identifying road networks within the property.
PHA, through WPP, has also finalized the purchase of an additional five hectares of beachfront property located in Nagtabon Beach and is in the process of putting together a tourism development plan for the area.
Last month, PHA announced the appointment of real estate guru, Danilo A. Antonio, WPP president.
Antonio is the co-founder of Landco, director of Bonifacio Land, COO of Eton Properties Philippines, managing director of Filinvest Festival Mall, and president of BDO Realty Corp.
Aecom’s well-known projects are the World Trade Center, Hong Kong Science Park, Sentosa World Resort, Anvaya Cove and the Lio Resort, the most recent resort development of Ayala Land in El Nido, Palawan.
David Leechiu is the CEO and Co-Founder of Leechiu Property Consultants (LPC) which acquired Vertex Land Development Management (Vertex Land) engaged in the field of market research, feasibility studies and project conceptualization.
The presence of the three specialists ensures the successful planning, design and implementation of WPP set to be launched in the first quarter of 2017, PHA said.
PHA said it will likewise bring in its infrastructure subsidiary, Redstone Construction and Development Corporation (RCDC) to provide cost effective site and land development expertise.
RIZA LOZADA