Friday, December 19, 2008 Hotel owner plans to set up retirement facilities in Davao By Joy Romares-Sevilla
THE owner of one of the biggest hotels in Davao City, the Royal Mandaya Hotel, said he is inviting some investors to put up a hospital, leisure park, and other retirement facilities in his 100-hectare property in Baracatan, Toril that will primarily cater to foreign retirees.
Retired Col. Emilio Escandor, who also owns Dasia Security Agency, said during a press conference called by the Philippine Retirement Authority (PRA) on Wednesday that such plan would further help market Davao City as one of the retirement destinations in the country.
"Royal Mandaya is now one of PRA's marketers because the hotel really caters to foreign retirees," Escandor said. "To further help in the PRA program, I plan to invite some investors to put up retirement facilities in my 100-hectare property in Baracatan. I know that it will entail a lot of money, but I think it could be realized."
PRA chair Edgar Aglipay shared his views on the peace and order issue, which is usually the reason why investors are not keen to put up shops in Mindanao.
"I've been around the world and the number one question is: 'Your country, particularly Mindanao, is not secured, why should we go there?' This was asked of me by a Japanese investor in one of the gatherings in Japan. Before I could answer, a foreigner stood up and said he can guarantee that the Philippines is secured and it is even more peaceful than Tokyo," Aglipay said.
