By Roderick T. dela Cruz | May. 31, 2015 at 10:05pm [ manilastandardtoday.com]
A leading property portal, which lists more than 100,000 properties for sale in the Philippines, confirmed that an idyllic island in Cagayan province valued at P80 billion was leased out to an American investor.
Jacqueline van den Ende, the Dutch managing director of Lamudi Philippines, said an American investor signed a lease agreement for the 100-square-kilometer Fuga Island in Aparri, Cagayan. She did not disclose more details such as the actual lease terms, as Lamudi was not directly involved in the financial transaction. Lamudi just provides a link between sellers, buyers and brokers.
Fuga Island is not the only island advertised for sale or lease through Lamudi’s Web site. “We have 10 private islands for sale,” said van den Ende.
Van den Ende did not identify the 10 other islands, but a check on Lamudi’s Web site shows that some islands or parts of the islands are being sold for as much as P300 million. These include islands in Aklan, Palawan and Quezon.
Even waterfalls are being advertised for sale. A 5.2-hectare property in Iloilo province, featuring 120-meter waterfalls, is being sold for P8 million.