This USD477 million mixed-use community in Bohol boasts to be a ‘once-in-a-generation‘ project
On 12 January 2023, diversified Philippine conglomerate Alturas Group launched Panglao Shores, a 50-hectare mixed-use development on the island of Bohol, guided by the principles of sustainability, community, and local culture.
This development was borne out of inspiration from their South Farm project that was launched in the midst of the outbreak to support communities, all the while retaining all employees. Eventually, South Farm transformed into what the developer refers to as a “sustainability incubator”, where the locals can gather, research, and develop resources, as well as plant trees and store materials like recycled wood.
“It evolved into a place that simply and most meaningfully represented the essence of the inclusive culture and community ethos of Alturas. South Farm was to become the inspiration for the entire Panglao Shores development,” shared the Group in their press release.
“It was an epiphany for us, a real moment of awakening,” added Hope Uy, CEO of Panglao Shores.
Sustainable insights from London-based XCO2, master-planning knowledge from Singapore-based SCSY, and development expertise from Panglao Bay Premiere Parks & Resorts Corp. (PBPPRC), a subsidiary of Alturas Group of Companies (AGC), have led to the creation of Panglao Shores, a fully integrated community, inspired by the local nature, with sustainability and social responsibility at its core.
Throughout this once-in-a-generation project are international eco-building materials and solutions, such as smart technologies, water treatment, waste reduction, solar harvesting, natural ventilation, high-performance glass, electric transport, and removal of single-use plastics.
With South Farm as its main inspiration, this project promises to integrate fishing communities and native farmers into their supply chain, promote local vendors’ crafts, support children’s education, and protect coral reefs.
Located on the southern coast of Panglao, off the coast of Bohol, Panglao Shores will be equipped with an international medical facility, a convention centre, six hotels and resorts, more than 1,000 residential units, co-working spaces, roughly 37,000 sqm of retail and commercial spaces, and of course a beach club.
Yet, the focal point is the Town Square Retail Mall & Night Market, a vibrant indoor-outdoor dining, shopping, and entertainment area with spaces for live performances, courtyards, and garden walkways.
Specially crafted for both the local and international markets, Panglao Shores is a flagship project under the Tourism Infrastructure & Enterprise Zone Authority (TIEZA), which aims to offer notable economic and social benefits to Bohol. The development is currently in its first phase, undergoing construction of the 188-room South Palms Resort, and is expected to be completed by 2024.
The Property Report editors wrote this article. For more information, email: [email protected].
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