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Article: Pnb not keen on selling Cebu resort.(Regional)
- Article from:
- Manila Bulletin
- Article date:
- August 20, 2009
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Cebu City – Tourism Secretary Ace Durano believes the Philippine National Bank (PNB) will opt to develop the bank-owned Coral Reef Resort, a premier resort facility in Mactan, Cebu, instead of selling it to potential investors.“I don’t think they are keen on selling the property because it is among the premier undeveloped properties left in Mactan,” Durano said in an interview with reporters recently.Durano said PNB has acknowledged the huge potentials of Cebu’s tourism industry and may choose to capitalize on it by redeveloping the idle 36-hectare resort facility.He bared PNB, which is owned by the Lucio Tan Group, is now “in its ...