Real estate developer expands in Bohol

By Calvin Cordova  | ManilaBulletin
February 13, 2023


CEBU CITY – A leading real estate developer based here is expanding its operations in Bohol province where tourism is starting to rebound and tourist arrivals are expected to rise in the coming months.

Officials of Primary Homes forecast the need for more accommodation rooms as the current 10,231 available in the province may not be able to cope with the projected increase in demand.

Led by its president, Architect Stephen Charles Liu, Primary Homes opened its first condominium showroom in the province on Jan. 26 in its bid to help boost the province’s tourism by providing more room accommodations.

The opening of the showroom in Dauis, Panglao Island, was graced by Dauis Mayor Roman Bullen, Vice Mayor Marietta Tocmo-Sumaylo, the Tagbilaran City mayor’s Chief of Staff John Geesnel ‘’Baba’’ Yap, Primary Homes Vice President for Sales and Marketing Ramero Espina, and Primary Homes Sales Operations Manager Francis Icamen.

Primary Homes opened its five-tower Royal Oceancrest Panglao 2 in the last quarter of 2022, solidifying the company’s major expansion in one of the country’s prime tourist hubs.

Royal Oceancrest Panglao 2 opened following the success of the three-tower Royal Oceancrest Panglao 1 in Dauis which is now in the final stage of development.

The company’s first-ever condominium project in Panglao Island in Bohol has 456 units that were sold out one year after it was announced in 2021. “Most of those who bought the units were 80 percent local,” said Ramero.

Ramero said most of the buyers of Royal Oceancrest Panglao considered buying condo units as an investment to be rented out for tourist accommodations.

Records showed that 720,364 foreign and 854,853 local tourists arrived in Bohol in 2019. In 2020, only 68,104 foreign tourists and 109,237 local tourists arrived in the

because of the pandemic.

The number further dropped in 2021 with only 1,127 and 178,654 foreign and domestic arrivals, respectively.

A sharp increase was noted in 2022 with 15,836 foreign tourist arrivals and 340,980 local tourist arrivals.

Lucas Nunag, chairman of the Provincial Tourism Council, said a sharp rise in tourist arrivals is expected but there is still enough time for the province to increase the number of hotel accommodation rooms even though they are forecasting.

He said there are expansion projects from the existing resorts that would increase the number of rooms.

Ramero said Royal Oceancrest Panglao II will give the province a big tourism boost as it will have 1,291 condominium units.