Tourism Infrastructure and Enterprise Zone Authority (TIEZA), the investment promotion arm of the Department of Tourism (DOT) created by virtue of the Tourism Act of 2009, registered two (2) hew tourism projects, namely, Uma Residences in Naga City, and Hotel Elizabeth Resorts and Villas in San Vicente, Palawan, as wet as a qualified expansion project by Club Paradise Resor in Coron, Palawan called Oceanview Suites 3.
On 28 February 2023, TIEZAs Chief Operating Officer, Mr. Mark T. Lapid and the Assistant Chief Operating Officer for Tourism Enterprise Zone Management Sector, Atty. Karen Mae G. Sarinast Baydo signed the Certificates of Registration and the Terms and Conditions of Registered Business Enterprise on the grant and availment of tax and duty incentives under the “Corporate Recovery and Tax Incentives for Enterprises” (CREATE) Act in a ceremony held at Conrad Hotel Manila in Pasay City.
Uma Residences is a mixed-use development located at Magsaysay Avenue, Brgy. Balatas, Naga City. The development includes the registered 191-room hotel component which will be equipped with amenities and facilities such as restaurant, coffee shop, meeting rooms, ballroom, swimming pool, pool bar, and indoor gym with an estimated total project cost of PhP 582.2 million.
It will start its commercial operations in April 2023 and is expected to generate a total of 145 employment in the locality.
The Hotel Elizabeth Resorts and Villas is an accommodation establishment-hotel which consists of 101-room Hotel Elizabeth, 12 Villas, and 1-room Owner’s Villa located in Brgy. San Isidro, San Vicente, Palawan. The project will include amenities such as a swimming pool, function rooms, board room, infinity pool, spa, gym and play room, a restaurant, and a souvenir shop with an estimated total project cost of PhP 570 million. It is expected to generate 100 emplovment opportunities on its commercial operations in May 2023. This is TIEZA 3rd registered tourism enterprise to locate within the San Vicente Flagship Tourism Enterprise Zone.
Lastly, the Oceanview Suites 3 is an expansion project in the newly-launched wing of Club Paradise Resort, a multi-awarded and an exclusive island resort located at Dimakya Island, Brgy.
San Jose, Coron, Palawan. The expansion project will include 12 luxury suites offering the best panoramic sights of the island with an estimated total project cost of PhP 97.31 million. It is expected to commercially operate in April 2023 and will generate a total of 10 additional employment opportunities in the area.
These developments are expected to generate new employment opportunities and spur economic activities that will promote inclusive growth for the host community.
The newly-registered business enterprises are represented as follows: Naga Queenstown Realty and Development, Inc. Vice President for Finance, Ms. Cherry . Rocha for Uma Residences;
FHG Development Corporation President, Mr. Joel S. Fernando for Hotel Elizabeth Resorts and Villas; and Euro-Pacific Resorts, Inc. Vice President for Project Development, Arch. Rupert Terence Sykat for Oceanview Suites 3 expansion project.
The TIEZA-registered business enterprises will enjoy fiscal incentives, such as Income Tax Holiday, Enhanced Deductions and Duty Exemption on Importation under the CREATE Act.
To know more about TIEZA’s incentives packages and registration process, interested investors may contact our TEZ Management Secretariat at 8249-5900 local 724 or e-mail us at tez. [email protected] and [email protected]. You may also follow us on Facebook at www.facebook.com/tezmgmt and on Linkedin at www.linkedin.com/in/tezmamt.
