Cordillera, - Property firm Discovery World Corporation (DWC) is raising funds to finance the construction of two new hotels, one in Palawan and another in La Trinidad, Benguet.
BusinessWorld reports that Discovery World has signed a subscription agreement with International Finance Corp. (IFC) to get funding for the projects for as much as Php650 million "to meet the growing demand for hospitality infrastructure in the Philippines.
The leisure property developer said, the accumulated funds will be used for the planned building of two hotels to be located in Palawan and in Benguet.
La Trinidad is a growing tourism spot in the country, known for its sweet strawberry and variety of fresh vegetables coming from different municipalities of Benguet. Discovery World has seen this spot in the north as another perfect area for its hotel and resort business to grow.
This will be the first time for DWC to invest in Benguet, expanding its foothold from the Visayas Region into the northern region.
Discovery World develops, operates and manages hotels and resorts in the Philippines. The company also develops, invests in, owns, constructs and operates hotels, resorts condominium, buildings and other tourist-related structures. It currently operates the Discovery Shores, Club Paradise and Discovery Fleet.
1 Comments:
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