06/04/2008 [ tribune.net.ph ]
Puerto Princesa’s two economic zones were envisioned as areas to promote ecotourism and environment conservation, City Mayor Edward Hagedorn said.
Hagedorn told reporters that negotiations with the developers and Philippine Economic Zone Authority (PEZA) director-general Lilia de Lima for the development of the province’ first economic zones are underway.
The proposed tourism complex will be located in a five-hectare property in Cabayugan Community just few kilometers away from the Underground River.
One interested party to develop the area is the Wylland Group of Hawaii that is a well-known property developer in the United States and other parts of the world, he added.
Initially, the group proposed to construct a 50-room resort that is estimated to cost $50 million.
The other zone, meanwhile, will cover a total land area of 1,000 hectares exclusive for projects that should be in “harmony with nature.”
Prospective locators would include research and development centers, laboratories, schools, hotels and even resorts. Hagedorn said the development cost of the second zone could amount to $100 million. Ayen Infante
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