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DoubleDragon is unfazed by plan to shutdown Boracay


The impending closure of island resort Boracay due to environmental concerns has no negative impact on the plan by DoubleDragon Properties Corp. to build the “biggest hotel” in the country.

DoubleDragon chief investment officer and head of corporate finance Hannah Yulo said the plan to close the island to tourism in order restore Boracay’s pristine condition will not delay the construction of Hotel101 Resorts-Boracay that was originally set this year.

“We’re still in the planning and design stages that also takes time naman: on finalizing your plans and securing the permits. So it wouldn’t delay construction,” Yulo told reporters during the launching of Hotel101 Fort in Taguig City late Wednesday.

The government is keen on implementing a 60-day moratorium against business operations in the isalnd to fulfill the order of President Rodrigo Duterte to bring the island back to its pristine condition in six months.

Tourism Secretary Wanda Teo said earlier the plan is to implement the moratorium during the rainy season when fewer tourists go to Boracay.

“It’s a great thing that the government is cleaning up Boracay. In fact, it’s very good for us because when it reopens we’re gonna comeback with a stronger ... world-class island,” Yulo said, noting that Hotel101 Resorts-Boracay is targeted to be completed in 2020.

“Hotel101 Boracay is gonna be a green hotel and compliant with all environmental requirements,” she said.

“I think the cleanup is gonna be a win-win for all the developers in the island,” Yulo noted.

The property developer has said the hotel Boracay is going to be the biggest hotel in the Philippines in terms of the number of rooms. With 1,001 rooms, Hotel101 Resorts-Boracay will rise on Megaworld’s 150-hectare estate called Boracay Newcoast.

Hotel101 Resorts-Boracay is a joint venture between DoubleDragon’s subsidiary Hotel of Asia Inc. and Megaworld’s Newcoast South Beach Inc. —VDS, GMA News

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