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Megaworld, owned by billionaire Andrew Tan’s spirits-to-property conglomerate Alliance Global Group, is pouring over 40 billion pesos ($720 million) into the venture—a tenth of what it plans to spend on building townships across the Philippines in the next five years. The company is banking on getting in on the ground floor as the island remakes itself into one of the country’s top tourist destinations. Some 1.5 million people, of which about 650,000 were overseas travelers, visited the island in 2023, nearly twice as many as the previous year, according to government figures, as tourists return to the Philippines post-Covid.

Meet The Billionaire Betting Big On An Idyllic Island Retreat In The Philippines

Meet The Billionaire Betting Big On An Idyllic Island Retreat In The Philippines

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