Thursday, October 10, 2019
Super Luxury Resort to open in Siquijor by 2020
A super luxury resort featuring 250 well-appointed rooms built within a 20-hectare property is set to open in the island of Siquijor by 2020. The new development is a landmark project of 8990 (HOUSE) through its newest subsidiary 8990 Leisure and Resorts.
Adama Resort Siquijor boasts of its own private white sand cove and top-notch amenities that highlight the natural beauty and topography of Siquijor. The master plan includes a central foyer that highlights the island’s natural scenery; rooms that are expertly designed to take advantage of natural light enhanced by the use of relaxing earth tone colors; and luxury cabanas beside Siquijor beach’s crystal clear waters. These masterfully designed amenities will be complemented by an exclusive butler service.
The new development marks the company’s first venture in the luxury resort category. According to 8990 Leisure and Resorts president Lowell Yu, the pioneering development will tap the relatively undiscovered tourism potential of Siquijor island who natural landscape that can rival some of the most popular tourism destinations in the country. He adds that Siquijor’s pristine reefs, white sand beaches and its reputation as a mystical island has captured the imagination of tourists who have visited the province. Yu is the man behind high-end membership shopping chain Landers Superstore, Popeyes Chicken, Kuya J, Isla Sugbu Seafood City and the iconic Grand Convention Center of Cebu.
Located in the Central Visayas region, Siquijor boasts of virgin white-sand coastline, clear turquoise waters, pristine reefs and enchanting waterfalls and caves which offer a more exclusive and exciting version of a getaway. It was previously called Isla de Fuego by the Spanish due to the warm glow from the fireflies in the molave trees of the island.
8990 Leisure and Resorts is the newest subsidiary of 8990 Holdings Inc., the largest mass housing in the country listed in the Philippine Stock Exchange as HOUSE. Adama Resort Siquijor is the first of the 10 new hotels and resorts of 8990 (HOUSE). All of which are expected to be completed before 2023 and contribute around P3.00 billion of additional recurring revenue to 8990 Holdings Inc. (HOUSE).
HOUSE generated record revenue of P7.01 billion and net income of P2.82 billion in just the first six months of 2019. Adama Resorts is set to open in the 2nd half of 2020, setting up the stage for its other luxury hotel Kura, and its urban hotel Argo. Together with Adama, these hotel and resorts are set to support the growing key tourist destinations of Palawan, Cebu, Boracay, Davao, Iloilo, Siargao, Baguio and Metro Manila.