The development of Discovery World’s third tourism estate started last Tuesday. This started in order to take advantage of the country’s growing tourism industry. Around P730 million will be invested to develop Vanilla Beach El Nido, which is a 120-key hotel in Palawan. It also has 3,400 square meters of retail space for lease, as well as a beach club.
Discovery World Chief Finance Officer Anna May B. Nieva said that the company is in the process of securing financing for the project. The target date for completion is at the end of 2017. All the succeeding phases are set to focus on expanding the commercial area for lease. Cay Island Corp., the listed company’s subsidiary, owns and operates the resort.
