8990 Holdings to Build a Luxury Resort in Siquijor
The 8990 Holdings will build a 250-room luxury resort next year. Siquijor Island has one of the fastest tourism growths in the Philippines. For being a tiny island, they cater hundreds and hundreds of foreign and local guests every month. With more guests coming from all over the Philippines and the world, all resorts and accommodations try to stay up to standards.
New Luxury Resort in Siquijor
The Adama Resort Siquijor is the first of the 10 new hotels and resorts of 8990’s newly-created hospitality arm, 8990 Leisure and Resorts. All of the 10 hotels are expected to be completed before 2023 and contribute around 3 billion pesos of additional recurring revenue to the group.
The 8990 Leisure and Resorts president Lowell Yu said this would be a “pioneering development that will highlight the tourism potential of Siquijor – from its pristine reefs, and virgin white sand beaches to its unique reputation as a mystical island.”
Yu, son of 8990 Holdings chair Luis Yu, has a track record of growing other new businesses outside his father’s mass housing empire. He 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. Adama Resort Siquijor will rise by the second half of 2020 on a 20-hectare beachfront property. Among its main features are its private white sand cove and top-notch amenities designed to highlight the natural beauty and topography of Siquijor.
More About 8990 Holdings Inc. 8990 Holdings Inc. is a mass housing development company in the Philippines. They were formally known as the IP Converge Data Center, Inc., however, their name was changed on October 1, 2013. The company is awarded DECA HOMES: Best Housing Developer and the Pag-IBIG Top Housing Developer in the Visayas among others.
