Vol. XXII, No. 76 [ BusinessWorld Online ]
Monday, November 10, 2008 | MANILA, PHILIPPINES
HONG KONG — A group of Hong Kong property investors will this week ramp up their campaign against what they call a land-grab by the Philippine government on the holiday island of Boracay, a report said yesterday.
The group will hold a press conference in Hong Kong today to draw attention to their ongoing battle to overturn a 2006 proclamation by the Philippine Supreme Court that the entire island belongs to the state, the Sunday Morning Post reported.
The law has meant people who own some of the property in Boracay have been ordered to reapply to purchase their land. Many have owned their properties for many years, the report said.
"It’s very unfair," said Stephen Arseno, a lawyer and landowner who has been fighting the government’s move in the courts, according to the Post.
International island
"This is an international issue because there are so many foreigners who invested in Boracay. The Philippines does not want a reputation for being a place where property rights are not respected."
The move comes as residents are increasingly concerned about the growing level of lawlessness on the island, which draws half-a-million tourists each year to its spectacular beaches, or more than one-sixth of tourist visitors to the Philippines.
Last week, armed men forced their way into one of the island’s resorts, holding the Australian owner and his family captive amid a property dispute, the owner told AFP. — AFP
