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Roxaco Land Corp., the property arm of Roxas group of companies, plans to spend P1 billion for four new projects in the next three years, including a foray into the tourism and commercial sectors.
To jump-start the firm’s entry into the tourism sector, Mr. del Rosario said Roxaco Land will open a businessman’s hotel “in the emerging business district of Greater Manila.” The hotel, he said, would be seven stories high with an average room rate of P3,000 a night.
Roxaco Land will likely spend as much as P300 million for this new project, he said, while another P350 million will be earmarked for the company’s planned commercial center on its 3.2-hectare lot in Nasugbu. The new commercial center will have a gross floor area of 18,000 sq. m.
Roxaco has a hundred hectares of land in Nasugbu and a number of residential and resort projects like the Peninsula de Punta Fuego, an 88-hectare residential beach resort in Batangas. The company is looking into developing other properties for expansion since most of its projects are almost complete.
The property developer is also looking for joint ventures with other real estate firms as it widens its geographical scope beyond Batangas to go to as far as Bohol and Camarines Sur in Bicol for tourism projects.
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