AbaCore Capital Holdings Inc. is building a Virgin Mary-themed resort in Batangas in partnership with Shanlin Real Estate Co. Ltd.
Shanlin is responsible for financing the development of the project while AbaCore is contributing the land for the venture.
Around P1.5 billion will be spent by Shanlin to complete the resort project.
The two parties recently broke ground for the resort that will rise at the Montemaria Shrine, a pilgrimage center dedicated to the Blessed Virgin Mary owned by AbaCore in Batangas.
“The project will be done through Fluvion Real Estate Development Inc. , a joint-venture company owned by Shanlin and AbaCore. The resort will feature a glass walkway to be named Montemaria Miracle Walk; a water amusement park envisioned to be the largest in the Philippines; and a hotel with a 360-degree view of the Bay of Batangas,” AbaCore said in a statement.
Montemaria Miracle Walk is expected to be finished this year, while the water park is slated to be completed in 2024. The hotel component is anticipated to be finished in 2025.
“The resort is expected to attract around 1 million tourists every year and create at least 1,000 jobs for the local community. In addition, the project is expected to generate P800 million to P1 billion in annual income for the business venture partners,” AbaCore said.
“We aim for the resort project to elevate the status of Montemaria Shrine beyond that of a religious destination. This is because we envision the Montemaria Shrine to be a lifestyle destination for tourists who want to experience the natural beauty of Batangas and of the Philippines as well. This resort project is a significant milestone for all of us, and we look forward to fulfilling its potential so that our stakeholders can fully benefit from what it has to offer to them,” said Guoan Wu, Fluvion president.
Lin Feng, a shareholder at Shanlin, for his part said the Philippines is a tropical country filled with beautiful natural scenery, making it an ideal destination for vacation and travel for tourists.
“As the local economy continues to benefit from the lifting of COVID-19 restrictions, the tourism industry has become a key area for us to realize the biggest potential for growth, ” Lin added.
