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Alphaland Corp. is spending at least PhP16 billion until 2014 on various real estate projects, including the 34-hectare Bay City project to be located near SM Mall of Asia. Reports said the Bay City project, which will have a marina/yacht club, will cost at least PhP2.5 billion. Of the projected cost, around PhP1 billion will be for the breakwater and about PhP300 million for an old cruise ship that will be converted into a clubhouse.
Alphaland, controlled by businessman Roberto V. Ongpin, also plans a tourism project on the resort island of Boracay and a 424-hectare Balisin Island Resort in Atimonan, Quezon, which will cost at least PhP4 billion.