The Uy-led Philippine BXT Corp. has allocated P1.2 billion for the expansion of JPark Island Resort and Waterpark Cebu in Mactan.
The company is also setting aside P1 billion for each facility envisioned to rise in Bohol, Boracay and Palawan in the next two years, said president and chairman Justin Uy.
“This year, we will be completing new amenities in JPark which include a children’s park and a beach club,” he said in a press conference.
The company is currently scouting for properties in Boracay, Bohol and Palawan.
Construction will start as soon as land development is completed in any of the three potential project sites, Uy said.
In Mactan, Uy said they will soon develop another 30-hectare integrated resort.
He refused to give more details, but said the project will be announced by December this year.
BIGGER AREA
The company has acquired additional two hectares for JPark, bringing its total land area to 10 hectares.
The expansion area will host more rooms and amenities, Uy said.
“The trend now is the bigger and the more facilities, the better because the tourists want to do many things in one area. That is why we are investing in all these expansions,” he said.
Uy, whose businesses include food processing and a mall, took full control of Phil BXT from its Korean owners in May this year.
JPark Island Resort Cebu currently has 556 suite rooms.
Uy said the resort enjoyed an occupancy rate of 92.5 percent last month, its highest so far.
“I can’t say it’s because of APEC (Asia-Pacific Economic Cooperation) because we did not host meetings here, and we’re not aware of a group of delegates staying with us. I think Cebu’s tourism will continue to grow, the country’s tourism actually,” he said.
Koreans remain their biggest market in Cebu. The number of Japanese, Chinese, Americans and European tourists is also growing.
“China registered fastest growth and we also expect Japan to grow more, especially with the many direct flights to Japan,” said Uy.
MEDICAL TOURISM
Uy said the company’s plan to enter the medical tourism segment was put on hold because they have yet to find a suitable foreign partner.
“We have a property ready for the facility already in Mandaue City,” said Uy.
The property has an area of three hectares and is envisioned to have a hospital, a wellness center and retirement homes, among others.
Uy said they prefer Japanese, Singaporean or Korean companies as partners for this project.