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Roxaco Land to build nat’l chain of resorts

Posted on 09:01 PM, June 16, 2010 [ BusinessWorld Online ]

ROXACO Land Corp., the property arm of listed holding firm Roxas and Co., Inc., is looking to create its own brand for tourism and residential projects, executives said yesterday.
For its first project, the new brand will focus on a P600-million high-end, serviced resort and residential complex in Cavite.
The tourism and residential property developer of the Roxas group is already looking for new areas for future projects that will make Roxaco Land one of the top resort chains in the country.
“Anya is something that we want to develop as a flagship brand for our resort projects,” Santiago R. Elizalde, senior vice-president of Roxaco Land Corp. told BusinessWorld. “The idea here is to develop that brand and make it a chain of resorts throughout the country,” Mr. Elizalde added.
Roxaco Land has partnered with VJ Properties, Inc. to develop Anya Resort and Residences, a six-hectare development in Tagaytay.
The joint venture partners will sell 48 open lots averaging 450 square meters (sq. m.) each at an average price of P11,000 per sq. m., said Giovanni Montini S. Nilo, assistant vice-president for operations of Roxaco Land.
Mr. Elizalde said Anya Residences combines resort and residential components in a single project. “We feel the concept can be replicated in some top tourism destinations around the country,” Mr. Elizalde said.
The residential phase of the upscale resort community in tourist getaway of Tagaytay is expected to be launched by the second half this year and will be completed in two years, Mr. Nilo said.
“We would like to be one of the leading Filipino resort brands,” Mr. Elizalde said, adding that portions of the project will be opened to the public. -- Neil Jerome C. Morales
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