Singapore’s luxury resort company Banyan Tree is set for an expansion into the Philippines with a new island resort worth some US$200 million. The company recently held a ground breaking ceremony at Coron in Palawan province. The 55-hectare resort is scheduled for completion in 2012 and will have three resorts with a complete range of lodging and amenities and include a marina for guests and visitors.
The Isla Diwaran resort is located about 20 minutes from Coron, which is south of Manilla on Busuanga Island. Diwaran Island is uninhabited and has long stretches of white sand beeches and is surrounded by coral reefs that are well known to divers who come to this area.
“We are delighted to have found this ecological haven to plant our first flag in the Philippines. We are especially proud to be working with partners who share our core values and who have taken positive steps towards sustainable tourism and environmental conservation”, said Banyan Tree’s Executive Chairman, Ho KwonPing.
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