With stunning views of Ulugan Bay, the eight-hectare seaside community will feature world-class resort amenities and pioneer health and wellness offerings in one of the world’s most iconic islands
LAST month, global asset management company Starfleet Innotech, Inc. (OTC: SFIO) closed off 2021 by signing a joint venture with Filipino partners to build a world-class eco-luxury, health and wellness community on their bayside property in globally-renowned Philippine destination Puerto Princesa, Palawan.
The project will be owned and developed by SFIO Leisure and Development, Inc., a joint venture stock corporation, and will see eight hectares of beachfront land transformed into an exclusive, holistic lifestyle community hidden amongst Palawan’s iconic mangrove glades and situated less than half an hour from the Puerto Princesa Subterranean River, one of the official New Seven Wonders of Nature.
The seaside community will feature a beachfront resort, as well as condominiums and a residential subdivision for longer-term residents looking to embrace Palawan’s luxurious lifestyle and relocate to its idyllic isles.
With stunning views of Ulugan Bay and resting upon some of the nation’s most fertile soils, the resort will offer a lush, nourishing environment for both short and long-term visitors and long-term residents to reconnect with nature. The resort’s tropical design evokes the nostalgic warmth of Filipino hospitality, featuring the nation’s iconic pitched roofs, woven textures, and natural shade elements. These initial design and feasibility studies are already underway, with development scheduled to kick off within the year.
Visitors and residents alike will enjoy resort amenities across the development’s condotels, private villas, natural springs, chapel and meditation garden, spa and wellness centers, glamping sites, forest trails, and of course, walking access to Palawan’s iconic white sand beaches and crystal-clear waters. With a focus on nurturing wellbeing, the resort will also offer productivity features for remote workers looking for the perfect blend of modern accessibility and natural living.
SFIO’s announcement comes on the heels of a series of joint ventures with Philippine-based partners to develop world-class resorts and townships across the country. With their latest venture, SFIO brings its global expertise in real estate development to a global destination in island leisure.
Palawan consistently places among the world’s top islands, coming in first on Travel+Leisure’s definitive global ranking multiple years in a row. Based on Collier’s 2021 Residential Survey, Palawan was the top destination for Filipinos once travel restrictions are lifted. The global research firm expects domestic tourism to drive the leisure sector’s looming rebound, citing the Philippine Department of Tourism’s projection that domestic trips will reach 84.8 million in 2022, or 90 percent of total trips in 2019.
Not long after, the Philippines’ hotel industry – led by island beach destinations like Palawan – is forecasted to surpass even pre-pandemic revenues as early as 2023. According to latest data from Statista, the industry is expected to reach an all-time revenue high of $2.1 billion by 2025.
Timed to debut amidst this renewed renaissance for Palawan, SFIO’s latest development in Puerto Princesa is expected to be completed by 2024.
SFIO’s joint ventures in real estate play a crucial role in the global asset management company’s strategy of collaborative innovation towards building better communities. Work is already underway at SFIO’s recently established Technology Division on a suite of state-of-the-art, smart-building technologies designed to ensure the long-term, holistic wellbeing of communities. The team has also designed a proprietary project management platform tailored for their real estate projects. With this system, SFIO’s partners and global network of licensed realtors are able to easily access information and seamlessly collaborate with project proponents, expediting the selling process across SFIO’s real estate portfolio.
These technologies are expected to set new gold-standard for real estate management and community health systems across resorts and townships.
According to SFIO, the company is in talks with a number of investment banks to enter debt financing deals that would fund these projects while preserving shareholder value. Profits from these high-yield projects are intended to be reinvested into future growth, helping carry the group towards their plans to uplist from the US OTC Markets to the NASDAQ by 2024.