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Home | Money Matters | Property developer acquires all-suite Abaca Resort Mactan, to expand its development

Property developer acquires all-suite Abaca Resort Mactan, to expand its development

Leading property developer in VisMin Cebu Landmasters, Inc. (CLI) recently announced the expansion of its resorts development with its acquisition of the Abaca Resort Mactan property.

The all-suite Abaca Resort Mactan is a luxury resort in the Punta Engano area of Mactan island that has received the highest ratings from global travel experts. With a footprint of 4,328 sqm., the property is one of the few remaining prime properties in the area with an attractive oceanfront and just a short drive from the Mactan Cebu International Airport. CLI envisions the Abaca Resort Mactan to expand to a 100-room all-suite luxury development from its current nine rooms, to be completed in 2023, disclosed Jose Soberano III, CLI chairman and CEO.

CLI also signed a hotel management agreement with The Abaca Group, owners of the resort and a chain of top-end Cebu restaurants. This will ensure that the Abaca Brand of uncompromising quality and high-end, personalized service will continue in the new Abaca Resort Mactan.

“CLI and The Abaca Group will create world-class synergies that will allow us to maximise tourism opportunities in Cebu, a booming growth area supported by large-scale infrastructure development projects such as Terminal 2 of the Mactan Cebu International Airport,” Soberano highlighted.

The Abaca Group founder Jason Hyatt said, “With Cebu being our adopted home, it has always been our vision to contribute to the growth of Cebu’s tourism and hospitality industry on a much larger scale, especially the Abaca Resort and Hotel brand. We have been approached by several developers to expand the brand but the thoughtfulness and commitment to quality that Cebu Landmasters brought to the table was undeniable and made the decision easy.”

“Having this unique partnership and opportunity to manage a premier property developed by the region’s premier developer is a significant step towards our vision of breaking out as the country’s top homegrown luxury hotel group,” added Hyatt.

Soberano disclosed that a reputable foreign architect will be tapped to design and masterplan the redevelopment of the luxury resort. Both CLI and The Abaca Group envision an iconic and sustainable resort tower that will showcase Mactan’s very first Sky Villas. Abaca Resort Mactan will close its doors in February 2020 to give way to the ambitious redevelopment.

Cebu Landmasters with a total of 58 projects in various stages of development in seven key cities of the region. Aside from the Abaca Resort Mactan, CLI has also recently acquired the 2-hectare Lowaii Marine Cebu Resort which is located on the southern side of Mactan Island. The listed company was recently named by PropertyGuru as the country’s best developer in 2019.(PR)

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TREND MAKER. Mindanao Gold Star Daily was established in 1989 to set ablaze a new meaning & flame to the local newspaper business. Throughout the years it continued its focus and interest in the rural areas & pioneered the growth of countryside journalism.

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