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AGI investing $300 M for new Boracay resort
The Philippine Star
|September 16, 2024
Alliance Global Group Inc.(AGI) of tycoon Andrew Tan intends to pour in about $300 million for the development of another integrated resort development in the Visayas.
AGI president and CEO Kevin Tan said the group targets to start and open Boracay World Resorts by the end of next year.
Tan said details of the project are still being finalized but noted that the casino component is not going to be very big.
"It will be a boutique casino. Of course we do not want to have a very big structure in Boracay. What we want is just the right size for the island. And we're also imploring a more sustainable design so that it will go well with the island," he said.
Tan said Boracay World Resorts is one of the first two expansions outside Metro Manila being undertaken by its leisure and tourism arm Travellers International Hotel Group Inc.
This story is from the September 16, 2024 edition of The Philippine Star.
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