Premiere Horizon To Raise PhP1B To Anchor Its Infrastructure And Tourism Focus
Premiere Horizon Alliance Corporation (PHA) announced that the Company's 2017 strategic focus will be on infrastructure and tourism which will strongly support the current administration’s thrust on sustained countryside development where tourism and infrastructure play major roles. The Company plans to raise up to PhP1.0B for the said expansion.
Specifically, PHA's tourism development subsidiary, West Palawan Premiere Development Corporation (WPP), is raising around PhP400 million to make its first foray into the fast-growing tourism sector. WPP is in the final planning stages for an integrated township development that brings together serene mountainside and beachfront resorts as well as residential projects located in the emerging West Palawan corridor.
WPP likewise acquired an additional 5-hectare beach front property in Nagtabon Beach and is finalizing a comprehensive development plan that will complement the WPP development’s landmark beachfront loop attractions. Nagtabon Beach is about 35 minutes away via fully cemented roads from Puerto Princesa City International Airport.
PHA will bring in its infrastructure subsidiary, Redstone Construction and Development Corporation (RCDC), to provide cost-effective site and land development expertise to the tourism project.
In addition, RCDC, is also firming up a PhP200 million expansion budget for its infrastructure development projects. RCDC expects to broaden its operations to include non-mining construction activities starting with the execution of WPP's site development plans.
For 2017, PHA is also currently evaluating several business partnerships and acquisitions in the cement, iron, water and energy sectors, supported by a financing budget of up to PhP400 million.