Property developer Ayala Land, Inc. plans to complete the rehabilitation of its 43-room Pangulasian Resort in El Nido, Palawan next year. The company has also announced its entry into the El Nido-based Ten Knots in April 2010, infusing money equivalent to 60 percent of the latter’s interest.
The company intends to open more “eco-tourism” projects in Palawan in 2011. Under a joint venture with the operator of the El Nido Resorts, Ayala Land said it intends to infuse more equity into existing projects while retaining the brands. “We would like to continue with the buildup in El Nido. We have Lagen island and Miniloc and would like to do some more island resorts in that area,” Ayala Land president Antonino Aquino was quoted as saying.