Robinsons Land Corp. of the Gokongwei group plans to build its first high-end leisure estate following its purchase of a five-hectare property on Mactan Island in Cebu City, the company said.
In a disclosure to the stock exchange Monday, it said the property in the Punta Engaño district would be developed into a condominium resort that would target retirement-home buyers as its main market.
Foreign and domestic tourist arrivals in Cebu increased 20 percent in the first half of the year from the same period last year, with Koreans, Japanese and Americans as the major foreign visitors.
The city government has a five-year tourism plan and has been formulating strategies that target markets in China, Russia, India and ASEAN countries to boost its foreign arrivals record.
lizabeth Sanchez-Lacson; with INQUIRER.net
