INVESTMENT Panglao Shores blooms

By Buddy G. Recio

The horizon is wide open for a profitable investment in Bohol. Altura’s Group of Companies started the ball rolling with a 57-hectare land area that will be seen as a game changer in sustainable tourism for the province. The development called Panglao Shores is a flagship project with the Tourism Infrastructure Enterprise Zone Authority (TIEZA), under Altura’s subsidiary company, Panglao Bay Premiere Parks & Resorts Corp. (PBPPRC).

Panglao Shores promises to be a destination on its own with all the components of a mixed-use development and some. It is just 10 minutes away from the new Panglao International Airport.

The heart of the project will have a town square retail mall and night market, a vibrant hub of shopping, dining, entertainment with live performance areas, garden walkways and courtyards.This will be surrounded by facilities and amenities, commercial and retail spaces, residential villages, a convention center, co-working spaces, international hotels and resorts, and a beach club.

“We have an opportunity to develop it on our own," related Hope Marie Uy, managing director of South Palms Resort Panglao. "It has been 10 years now. 5 years ago, we planned out how we are going to develop our property. A family-run business with family values that we always instill in our hearts so we called it Panglao Shores development.

Uy related that they had traveled to see and use ideas. They went to Bali, Phuket, Boracay, Palawan, Cebu. Ultimately, they found that it is only in Bohol that they will get the inspiration as it is not just the beach with the culture of Bohol, not just palm trees, but the community because their neighbors are very important to them.

“We were very inspired by local materials. We went around Bohol to source this beautiful architectural material. We have these clay bricks, we have, of course, the old houses where we used the many tin roofs. We started with us planting ornamental plants to be able to supply our developments. So our goal here is to supply the development with 100% Bohol sourced plants reducing any carbon footprint of shipping items to Bohol because we have a beautiful landscape here. So everything is just found in Bohol and that we know will flourish here as well,” Uy added.

In the masterplan, this 25-billion peso project will have 37,000 square meters commercial area, a medical facility, a town square, 6 branded hotels and resorts, all set in the 1 kilometer beachfront. Panglao Shores is about engagement with the community, not just with tourists. 500 residential units are planned in the future. The structures will only allow four-storey buildings. It will also have a port for cargo and cruise ships.

“That's really important because it's lower density, it's not managed to take away the views and to enjoy the aspect of the view of the ocean as well,” said Uy. “We have a 700-meter green belt within the development where you can just lounge, exercise, and just have fun ,” she added.

According to Bill Burnett of C9 Hotelworks, the major consultant of the project, Panglao Shores will be a generational business meaning it will last for generations, sustainable because energy saving measures are built into the project.

The Uy family are into a lot of businesses. The chairman and patriarch owns The Alturas Group of Companies composed of Marcela Farms, Alturas Supermarket Corporation, Island City Mall in Tagbilaran, South Palms Resort Panglao, South Farm, Leonardo Distributors Inc., Bohol Tech Vocational, Inc. and North Zen Villas, Panglao, among others. The company also produces the famous Peanut Kisses, a famous delicacy In Bohol.

The South Farm is a 9-hectare organic land property that is committed to sustainability. It has organic, herbal, and medical gardens; a Fisherman’s Village where shrimp, tilapia, and bangus are cultivated to supply the property and nearby communities; and, the Artist’s village where the Boholano’s artistry and craft making such as clay-making, basket weaving, and coco products like oil, vinegar are showcased.

“My father is a farmer and he actually raises livestock as well. So currently, we supply almost 50% of our products that are based in Bohol and 20% are coming from South Farm now. So it's, again, saving the environment. That's your carbon footprint. We've tried to inspire with South Farm to inspire the cuisine which will be in the hotel, and again, for that maybe the menu is not the same every day. Maybe you don't get the same fruits because what's in season, what's available then, is what they'll use and regenerate. I think that's so important in terms of our content with the new hotel, but also to show others that you don't need to be a cookie cutter. Everything doesn't necessarily have to have the same menu every day. It can change and you can use products from all products raised here. That's also good for the environment as well,” Uy stated.

On the part of TIEZA, Atty. Karen Sarinas Baydo stated that, “Being a publicprivate partnership project, Panglao Shores investors like hotels will benefit from fiscal and non-fiscal tax incentives. We can also bring them and market them for investors or operators roadshows here and abroad apart from the standard mandate such infrastructure support and full range of TIEZA’s incentives we give based on our master plan.”

Presently, the 188-keys South Palms Resort is currently underway with a target completion in 2024. It will carry an international brand. The South Palms Resort development signals the acceleration of tourism in terms of contribution to the economy and creating jobs as well.

Uy said that as poverty is a problem in Bohol, Panglao Shores will be a contributor to the economy. Many jobs will be generated, and the trickle down effect to nearby provinces is a possibility.