CLI to acquire Abaca Resort Mactan property
CEBU Landmasters Inc. will acquire the Abaca Resort Mactan property.
The developer announced it will expand the 4,328-square meter luxury resort, located in the Punta Engano area of Mactan Island, to 100 rooms from the current nine, set to be completed by 2023.
The listed firm also signed a hotel management agreement with The Abaca Group, owner of the resort and a chain of top-end Cebu restaurants.
“CLI and The Abaca Group will create world-class synergies that will allow us to maximise tourism opportunities in Cebu, a booming growth area supported by large-scale infrastructure development projects such as Terminal 2 of the Mactan Cebu International Airport,” Soberano said.
CLI also recently acquired the 2-hectare Lowaii Marine Cebu Resort located at the southern side of Mactan.
Source :https://www.sunstar.com.ph/article/1822785/Cebu/Business/CLI-to-acquire-Abaca-Resort-Mactan-property
