The pristine beauty of the world’s best beach Boracay is a view to behold.
DM CONSUNJI INC., a wholly owned subsidiary of construction giant DMCI Holdings Inc., has bagged two contracts worth roughly P1.6 billion to build a facility for business process outsourcing firms for Robinsons Land Corp. (RLC) and a hotel on Boracay island for Shangri-La Hotels & Resorts, Inc.
"Construction has picked up, but the private sector has limited activities," said Herbert Consunji, DMCI Holdings vice president. "There are a few clients who engaged in construction on a regular basis. But it’s a promising year. We are back on the radar screen."
Of the total amount, P1.3 billion will be used to build the seven-storey Shangri-la Resort & Spa on Boracay, while P297 million will go to the construction of Robinsons Cybergate Tower 3 on Pioneer Street in Mandaluyong City.
Shangri-la Boracay Resorts consists of nine units of 5-storey guest rooms and 37 luxury villas. It has a floor area of approximately 56,200 square meters.
The hotel will also cater to recreational needs through an outdoor plunge pool or jacuzzi, treetop restaurants, all-day dining coffee shop with outdoor seating, a specialty restaurant, meeting and banquet facilities on the island, ballroom and function rooms, and an outdoor wedding pavilion.The resort will also feature a "Chi" spa which is a separate village complex. The spa village facilities include suites for half or full day use, a yoga pavilion, spa pool and recreational facilities such as outdoor tennis court, swimming pool and marine center with diving facilities.
The Shangri-la Boracay Resorts will start construction this month and is expected to be completed by May 2008.
On the other hand, Cybergate 3 is a 26-storey office building. The lower ground all the way to the fifth floor will be utilized as parking areas. The remaining floors are allotted for office space.Construction will start in January 2007. It is expected to be completed by February 2008.
Also, DMCI said it would withdraw from a joint venture with Vulcan Industrial & Mining Corp. (VIMC) by paying its share of a P40-million loan which was recently secured from Metropolitan Bank and Trust Co., VIMC executive vice president Patrick Caoille said.
The loan was supposed to fund the joint venture, which entails the supply of gravel to DMCI from Vulcan’s quarry in Montalban.
DMCI owns 49 percent of the joint venture project, with the Vulcan group holding the balance of 51 percent.
Caoille said DMCI has committed to pay some P18 to P19 million of the said loan. The two have been partners since 1991. /MP mailto:madyaas_pen@yahoo.com
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