Premiere Horizon Alliance Corp. (PHA) is going full blast on the development of resort hotels in Puerto Princesa, Palawan.
The first phase of the Palawan masterplan involves the construction of two beachfront hotels in Nagtabon and a commercial center.
Phase 2 covers the development of two five-star hotels on North Cove’s private beaches in partnership with global resort brand. An initial 100 hectares had been earmarked for this project.
PHA will also build a businessman’s hotel and a convention center to take advantage of the robust MICE (meetings, incentives, conventions and exhibitions) market in Palawan.
Apart from this, the company is also targeting to acquire companies engaged in real estate and tourism hospitality to provide short-term and medium-term recurring income while awaiting the development of its projects in Palawan.
Funding for PHA’s expansion initiatives will come from a P15 billion loan facility from Doha-based Sama Global Investments.
The nine-year loan, with a fixed interest of 1.25 percent a year, can be converted into a controlling stake of 60 percent