For Sale

Coron Island IS001

4947

Property ID

Array ( [0] => Island For Sale )
₱350,000,000

Description

Ancient tropical island within the Busuanga Biosphere, part of the Coron archipelago in Northern Palawan, Philippines.

This beautiful 47.9-hectare island is known as the jewel of Busuanga’s bays, with the most pristine and prestigious location in an area of outstanding natural beauty, crystal clear waters, and lush tropical forest. In fact it is the only known private island in Palawan with significant clear title (with no underlying indigenous claim) suitable for tourism development, making it an ideal turnkey opportunity for a commercial resort development. The island is uninhabited (except for resident caretakers) and remains in a pristine state with no development work ever carried out on the property.

PHYSICAL DETAILS

Property type:
Private tropical island with fine, white sand beach with zoning for tourism development.

Size:
47.9 hectares (13.79 hectares titled, remainder held via tax declaration).

Notable features:
Beautiful, uninhabited and pristine island property with an uninterrupted 1.1km crescent-shaped white sand beach. The island has no mangroves and a total of 3.3km of coastline, including several smaller beach coves, 80 meter high cliffs, lush rainforest coverage with rare trees, mature coconut palms, extensive (live) fringe coral reef system, and well-documented wildlife. All set within a secluded location, yet under 30 minute speedboat ride from 12 World War II wreck dives, local towns and tourism attractions. Also featured are a fresh water source and strong cell phone signal with data.

 

ACQUISITION DETAILS

Current tenure:
Locally incorporated holding company has acquired all rights (transferable/assignable/alienable) to the 47.9 hectare private island. The rights are comprised of 1 clear title for 13.79 hectares of flat, beach-adjacent land (undisputed and owned by one family since 1940); tax declaration for the remaining elevated forest land.

Selling Party:
Local/Foreign tourism developer. Two directors with ultimate decision making abilities. Meticulous attention to detail and compliance and an understanding of the needs of other developers. Can provide liaison professional services for a new buyer to familiarize them with general Filipino or more local, regional policy.

with general Filipino or more local, regional policy.

Potential tenure:
Transfer of title to an individual buyer or buyer’s own holding structure is possible. If a local or foreign buyer is unstructured in the Philippines, a simple purchase of shares in the current holding company structure can complete the transaction. Tax declarations may be replaced with a long-term government lease if requested by the buyer (FLAGT). Special economic zone benefits can apply.

 

DUE DILIGENCE

Full due diligence pack available upon request for fully funded entities with local legal counsel appointed.

Planning permissions acquired:
ECC (Environmental Compliance Certificate), Local Government Unit planning permissions and building permits for 100 stand-alone villas and resort facilities/amenities. Preliminary surveys for power and water infrastructure in place, comprehensive Environmental Impact Assessment completed for model development configuration of 100 villas.

Liens/Encumbrances:
None.

None.

Permits and Certifications:
NCIP (National Commission of Indigenous Peoples) certification of title being exempt from potential indigenous claims, Memorandum of Agreement with local indigenous community for tenure and development rights over the non-titled portion of the island currently held via tax declaration, HLURB (Housing Land Use Regulatory Board) certification of Tourism Zoning. DENR (Department of Environment and Natural Resources and DA (Department of Agriculture) certifications for Tourism Zoning of the title.

Corporate Holding Structure:
Comprehensive and compliant Filipino holding structure and development company (with offshore component) incorporated and operated compliantly since 2007. Holding structure owns all rights to the island – the structure can be transferred/assigned or replaced/amended.

Government / Private Consultations:
Full local government unit compliance, legal compliance, DENR compliance, SEC and BIR compliance. All incorporation and capitalizations completed with “big 5” audit supervision.

 

Address

 Address: Coron, Palawan, Philippines
  •  Country: Philippines
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  • Property ID 4947
  • Price ₱350,000,000
  • Property Type Island For Sale
  • Property status For Sale
  • Land area 48 Ha
  • Label Sale