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P500M beach project in the offing

Monday, September 15, 2008 [ ]
By Joy Romares-Sevilla

AN INVESTOR from Thailand will soon be processing necessary documents to develop a beach resort in Sta. Maria town in Davao del Sur, with a project cost of P500 million.

THE chief of the Board of Investments (BOI) in Mindanao Gil Dureza told Sun.Star Davao the investor will start development works in the area as soon as all requirements set by the Securities and Exchange Commission (SEC) are completed.

"This project is not yet registered with the BOI, but I understand that its papers are being processed with the SEC. We will soon give them the requirements for registration," Dureza said in an interview.

He added that BOI will still endorse the project to the tourism department in Manila before it will be registered with the agency.

Dureza assured that the project will be registered before the year ends.

"The investor might have seen the potential of the place," Dureza said, adding that the quality of sand in the beaches in Sta. Maria can be compared to Boracay.

Dureza claimed that not only beaches in Davao del Sur have potential for improvement and development, but also in Davao Oriental.

"We want to propose to the provincial government (of Davao Oriental) to come up with a good material which will be presented to investors. We need to sell Davao Oriental to investors. There are very good beaches in the area," Dureza said.


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