Monday, June 10, 2013

in the news: alpha/alphaland (10 jun 2013)

Alphaland firms up marina club project


Alphaland Corp., a listed property developer led by former trade minister Roberto Ongpin, is firming up plans for its marina club rising in Manila Bay and is now in talks to acquire as many as 20 yachts to lease to its members.

The move, company president Mario Oreta said, would allow Alphaland Marina Club to tap a broader market while differentiating its project. He said Alphaland Marina would be the first yacht club in Asia to offer boats for lease.


Alphaland is testing the market for upscale leisure spending as Oreta believes the Philippines is ready for this.

Sales at the club have been well received. Oreta said they have sold about 300 Alphaland Marina shares, with the going rate now at P1.5 million from the P1-million debut price.

Alphaland Marina, which will open late next year, will encompass 10 hectares surrounded by a breakwater.