By James A. Loyola

Housing developer 8990 Holdings is developing a luxury resort in Siquijor, its first foray in the luxury resort category, through subsidiary 8990 Leisure and Resorts.

In a statement, 8990 said Adama Resort Siquijor is set to open in 2020 and will feature 250 rooms built within a 20-hectare property.

According to 8990 Leisure and Resorts president Lowell Yu, Adama Resort Siquijor is a pioneering development that will highlight the tourism potential of Siquijor.

Among its main features is a private white sand cove and the master plan includes a central foyer, rooms that take advantage of natural light and luxury beach side cabanas. These will be complemented by an exclusive butler service.

Adama Resort Siquijor is the first of the 10 new hotels and resorts of 8990 — all of which are expected to be completed before 2023 and contribute around P3.00 billion of additional recurring revenue to the company.

House generated record revenue of P7.01 billion and net income of P2.82 billion in just the first six months of 2019.

Adama Resorts is set to open in the second half of 2020, setting up the stage for its other luxury hotel Kura, and its urban hotel Argo.

Together with Adama, these hotel and resorts are set to support the growing key tourist destinations of Palawan, Cebu, Boracay, Davao, Iloilo, Siargao, Baguio and Metro Manila.