Duros Group to spend 9B for 2019 projects; bares expansion plans in VisMin
LILOAN, CEBU, Philippines – The Duros Group of Companies continue to be bullish about business prospects in 2019 as they earmark P9 billion for various projects this year.
The confidence is mostly powered by projects in the construction and real estate sectors, according to Rafaelito Barino, chairman of the Duros Group of Companies.
In the 6th State of Duros Address held on Friday, January 4, Barino also revealed projects and expansion plans in Leyte, Bohol and Siargao, and the opening of an office in Manila.
Duros Group is composed of 11 companies namely Duros Development Corp. (DDC), SanVic Agro-Builders Inc., Duros Land Properties Inc. (DLPI), Regent Property Management International Inc., Liloan Golf and Leisure Estate Inc., SanVic Traders Inc., Cebu Eco-Thermal Horizon Inc. (CEH), Green Peaks Development Inc., San-Vic Foodchain Corp., Divine Life Institute of Cebu Inc. (DLIC) and Rafaelito and Fe Barino Foundation.
In 2019, Barino said there will be a stronger synergy within the Duros Group with DDC standing as the group’s flagship company.
Barino said DDC has recently sealed an asphalting project in Tacloban City funded by the Philippine national government.
Barino said the companies under the Duros Group will work with each other to deliver quality projects for its clients.
He said CEH will be the lead provider of construction services for DDC and SanVic Traders will be the main supplier of construction-related materials.
Their school, DLIC, will focus on manpower development and “produce students who are highly-skilled in construction.”
Regent will be the operator of hotel and resorts developed by DLPI and property manager of its projects.
In the aspect of tourism, Barino said they will strengthen their presence in Siargao, where they now operate the Gana Siargao Island Resort.
The group launched the resort last year and is currently on the planning stage for the development of a hotel on a 3,000-square meter property on Panglao Island.
Siargao and Panglao are two areas identified by the national government as top tourist destinations outside of Cebu and Boracay.
In Cebu City, the Minore Center and Hotel is expected to be completed within the first half of the year.
Barino said the 42-room hotel will start operations on July 2019.
“We will synergize the Minore Hotel in Cebu with the Gana Resort in Siargao and the Liloan Golf and Leisure Estate. DDC, CEH and DurosLand will continue and strengthen operations in Siargao,” he stressed
Fe Mantuhac Barino, president of Duros Group of Companies, said the 11 companies achieved key milestones as marked by the individual growth of each company.
She said the group has a total of 1,000 employees, who mostly come from local communities.
Duros started in 1987 with headquarters in the northern Cebu town of Liloan which is located about 23 kilometers from Cebu City. /rcg
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