Businessman Jocel Panlilio has targeted Siargao Island for Boulevard Holdings Inc.’s (BHI) next expansion.
Hindi na ampaw! Ricky Razon buys Puerto Azul property from Panlilio in P7.5B deal, plans third casino resort
BHI disclosed that it would buy land in Siargao after receiving P991.545 million in cash out of the P1.424 billion due from ultra bilyonaryo Ricky Razon who bought a big chunk of the hotel and resort operator’s Puerto Azul property in Ternate, Cavite. Razon, owner of Bloomberry Resorts, plans to put up a third Solaire Casino in the area.
Loss-making Boulevard Holdings sizzles amid rumors owner Jocel Panlilio close to Puerto Azul deal with Ricky Razon, other investors
Siargao used to be one of the hottest resort properties in the country because it was a favorite destination of foreign and local tourists attracted by its surf and tropical vibe. But the devastation from Super Typhoon “Odette” in December 2021 has dragged property prices down.
Panlilios claim Ricky Razon interested in adding their Puerto Azul property to his planned world-class resort project in Cavite
BHI said it also planned to use part of its cash haul from Razon’s purchase to inject cash and expand its loss-making Friday’s resorts in Puerto Galera and Boracay.
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