By Bernie Cahiles-Magkilat
The Manila Bulletin
Sept. 30, 2007
DAVAO CITY- Holiday Garden Island Development Corp. is investing P250 million to P300 million to develop a nine-hectare property in Samal Island into the country’s first integrated upscale residential, commercial marina and hotel and spa complex.
Ronald L. Bangayan, president of Holiday Garden Island Development Corp., told reporters the ongoing project in the Samal Island, which is already home to the renowned Pearl Farm Resort, has three main components: an upscale subdivision composed of villas, a marina and a hotel and spa facilities.
The residential component called the Ocean View Village is a five-hectare property that caters to an exclusive community of only 152 homeowners, who are entitled to automatic membership of the yacht club. Lots are sold at P15,000 per square meter.
The posh development is already 50 percent complete. It is scheduled for launching by October this year with local and foreign and returning Filipino retirees as main clients.
On the other hand, the Marina is a commercial area with a provision of 110 slips. It can accommodate sailboats and yachts docking in the island.
“This is the first marina in Mindanao,” Bangayan said. The other marina or yacht clubs are located in Manila, Subic Bay Freeport, and Cebu.
The marina, which juts out into the gulf area of Davao and to open in October next year, is expected to position Davao as a good place for water sports like sailing.
“We are going for local and foreign tourists as well as sailors,” Bangayan said.
The hotel and spa facilities occupy another 3 hectares. The hotel is designed as a 120-room tourist accommodation facility but is expandable into a 150-room hotel with a project cost of P200 million.
“This is the first of its kind complex in the country where a village, a marina and hotel and spa operations are developed in one complex,” the Davao-based businessman said. The are other developments in the country but not as integrated as the Holiday Garden Island kind of development.
The Bangayan Group is an existing practitioner in the tourism business. It owns the Holiday Spa in Manila and Cebu and the Linmarr Appartel and Hotel in Davao City.
The group, which is funding the Samal project on internally-generated funds and some loans, also operates the The Venue Entertainment Center here. They are also into land transportation business in Davao and is an operator of a ferry boat company for the Samal Island.
“Davao has a very nice gulf, we have no typhoon here, it’s a nice place for diving and Samal is very peaceful.,” Bangayan siad.
Bangayan said they may register the project with the Board of Investments for incentive purposes.