By Neil Jerome C. Morales (The
Philippine Star) Updated November 08, 2012
MANILA, Philippines - Alphaland Corp.
said it is banking on strong demand from local and regional boating
afficionados for its P2-billion Alphaland Marina Club.
The company expects to generate around
P3 billion from the initial sale of shares in the yacht club that can be
replicated in other major cities like Cebu and Davao, an official said.
There is a big demand from Filipinos
with boats or those wanting to buy boats as existing yacht clubs are already
full, said Alphaland project director Rafael Ongpin.
“Regionally, there is also a huge
demand,” Ongpin said, adding that the company will market its shares in Hong
Kong whose yacht clubs are already full.
Joanna Duarte, Alphaland’s director
for sales and marketing, said the company will start selling club shares worth
at least P1 million late this year.
Ongpin said around 3,000 of the total
5,000 shares will initially be sold next month.
To date, Alphaland is stockpiling
materials for the construction of the yacht club that will be completed in the
second quarter of 2014.
Alphaland will spend more than P2
billion for the Alphaland Marina Club, located in Parañaque. Its breakwater
will enclose about 10 hectares of marina area, with 300 berths for boats of all
sizes.
“It will give rise to the yachting
industry in the Philippines. And once you have more boats, people will want
more destinations,” Ongpin said.
To date, yacht clubs in the
Philippines are composed of roughly 150 berths. Ongpin said there are only
around 450-550 yachts in the country.
Ongpin said that if the project is
successful, there will be a lot of interest to duplicate the project in major
cities in Southern Philippines like Davao and Cebu.
Alphaland is the upscale property firm
led by the group of former Trade Minister Roberto V. Ongpin.
The Alphaland Marina Club forms part
of the 32-hectare Bay City development that will be a mixed-use community.
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