Property developer Ayala Land Inc. earmarked P11 billion to fully develop its first tourism estate development in El Nido, Palawan into an integrated resort community.
Javier Hernandez, chief operating officer of Ayala Land-led Ten Knots Development Corp., said Lio Tourism Estate in El Nido, once fully developed, would have 1,000 hotel keys as well as commercial establishments, residential communities and facilities and amenities for eco-adventure and leisure travel.
The 325-hectare development currently offers 213 hotel rooms targeting families, returning Filipino migrants, young professional and backpackers.
Another 787 new hotel rooms will be built until 2022, including the 200-room Seda Hotel and Resort.
Ayala Land started selling commercial lots ranging from 800 to 2,600 square meters which would be developed for hospitality-related projects.
Ayala Land’s premier residential brand Ayala Land Premier is also set to launch by the second quarter of 2018 a residential project in El Nido.
The residential offerings will include mid-rise condominium units comprising of three and four-story structures.
Ayala Land started improving infrastructure and facilities in El Nido. It recently opened the new Lio Airport Terminal that could accommodate 200 passengers.
A transport terminal for land-based transport is also set to open by October for guests’ convenience.
Other township components to be developed are employee housing, a market, schools, medical facilities and church.
Operating inside the estate is [email protected]
which aims to provide guests with a unique shopping and dining experiences by the beach.
Restaurants and bars offer various choices of local and international fare, while non-food retailers include tour operators, boutique and souvenir shops and a spa.
, which offers 3,000 square meters of leasable space, is expected to expand its offerings in the future with more choices and services for the convenience of both guest and locals.
Currently being developed is Kalye Artisano, an artists’ village that will serve as a platform for various forms of visual and performing arts, and will showcase crafts and creations from local artists.
Kalye Artisano (Artist Village) with 1,500 sqms GLA is expected to be completed by December 2017.
Ayala Land already developed 10 percent of the total 325 hectares. The company said it would keep 45 percent of the land area as nature preserved sites.