SFIO to invest US$100M to develop land into a resort-like condotel property in Batangas City, Philippines

SFIO has recently been named one of the “20 Promising Companies Everyone Should Know in 2021” by Global Business Leader Magazine. The joint venture project with Omnicor Industrial Estate & Realty Center Inc. has proven that it is worthy to be listed in one of the 20 promising companies.

Omnicor Industrial Estate & Realty is a subsidiary of AbaCore Capital Holdings, a publicly listed company in the Philippines, plans to contribute land by the bay of Batangas where SFIO will develop the land into a resort with 500 units condotel owned by AbaCore Capital and PRIDE in Batangas City’s Montemaria.

Omnicor Industrial Estate & Realty Center Inc. is a corporation 100% owned Philippines Regional Investment Development Corporation (PRIDE). Meanwhile, PRIDE is 100% owned by AbaCore Capital holdings, Inc. This Joint venture project has given an aim to SFIO to establish a US$100M project and it is established in a strategic tourist spot in Montermaria, Batangas City, Philippines. The property is aimed to be structured as a resort condotel concept which predominantly targets tourists, pilgrims, expats, and the returnees of Filipino descent who want a short holiday or for permanent stay for retirement.

The purpose of the development is to position the two companies in the new tourism industry and prepare for post-pandemic restrictions. Also, the project provides domestic visitors with a utility in the uncertainty of travel rules and regulations in the future.

Also, a key highlight of the property is it being equipped of state-of-the-art smart building technology. This technology will be built by the Technology and Software development team of SFIO. The technology is beneficial to its users by enhancing the health, wellness, safety, and security of the guests.

The duration of the project is aimed to be accomplished in the next three years. According to AbaCore Capital, “the preselling of the units will commence once the permit is approved by the concerned government agencies.”

SFIO and AbaCore agreed to be the preferred developer of the future project – the joint venture between SFIO and ABA will be the a first-ever experience. The companies are confident that the project will be a great success. This will enable them to grow and come together to build the greatest business relationship to support each party by efficiently achieving their goals.

(Advertising Supplement)

 

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