Landco basks in glow of upbeat leisure market

PENINSULA de Punta Fuego, Landco’s flagship development

Realty conglomerate Landco Pacific Corp., owned by the Xerez-Burgos family, recently celebrated its 25th anniversary at its flagship project—the 88-hectare Peninsula de Punta Fuego in Nasugbu, Batangas—with Basque cuisine, fresh bounty from the sea, a fashion show, and a lively party with chanteuse Kuh Ledesma providing the entertainment.

Landco’s property—leisure and upscale communities, and resort-style condominiums—includes nearby Terrazas de Punta Fuego and Amara en Terrazas; Playa Calatagan, Aquaria Beach Resort and Playa Laiya in Batangas; and Playa Azalea in Samal City, Davao.

The company also has primary homes in Pampanga, Bulacan, Laguna, Nueva Ecija and Zamboanga.

“The leisure market is definitely very attractive, not only for them [homeowners and stakeholders] but for us, patriarch Alfred Xerez-Burgos II earlier told a poolside gathering. “We have to continue. There’s a big demand for this kind of development. It’s good for a lot of future business. My son [Alfred III] started the leisure farms in Tagaytay and the concept also clicked.”

Priceless memories

Alfred (Alby) Xerez-Burgos III said many have asked where Landco is going.

“So, we have to capitalize on the brand we started, and fulfill our grand promise: Land, life with leisure, and certain values. Family time, bonding, enjoying God’s creation, priceless memories,” he said.

“My wife said being here was time off from her usual duties. I played football with my son and he thanked me for my time. My daughter drew pictures and gave this to me as a gift. This value should be extended to those who cannot afford it, to orphanages, underprivileged children…. We are looking forward to that later this year,” he added.

Xerez-Burgos III told reporters that the lots in Peninsula sold out years ago, at P4,000 per square meter. But the value  has since soared to P31,000 per square meter through secondary sales. There are a few lots left in De la Cresta, with prices ranging from P6.5 million to P16 million depending on the location and the prime sea view.

The condominium units sold out three years ago, but secondary sales have ranged from P12 million to P15 million.

“The Peninsula started it all,” Xerez-Burgos declared. “There were a lot of challenges, no roads. We had to [ship in] all construction materials and ferry customers from Maya-Maya until the Ternate highway was appropriated by the national government. People fell in love with the property and bought.”

TERRAZAS de Punta Fuego

Pioneering effort

Addressing the poolside meeting earlier, Andres Roxas, a business partner, recalled: “We walked all the way, it was really rough but that was part of the beauty of the property, the peninsula. There were cute little coves, a long coastline, new land. It took a lot of guts at the time. But from nothing, we now have maybe a couple of hundred homeowners. This led to a series of projects in the real estate market, it was a pioneering effort.”

Xerez-Burgos said an exclusive setup like Peninsula de Punta Fuego has its limitations: “You are limiting yourself to this market, and members have to support with dues. Luckily the club has instituted changes. Punta Fuego is open to nonmembers through online bookings, but only up to 15 percent and if they are ‘strictly’ recommended by a member.”

He added: “Our occupancy is 70 percent. In Manila it’s 55 percent. That’s when we realized the potential of the domestic market. There are 10 million domestic tourists.”

Punta Fuego was developed in 1996 when real estate was really picking up.

“But in 1997 the industry crashed. Surprisingly, 1998 was our record year. There was a tendency, a flight to quality compared to other real estate projects. People had money, they felt it was safe here, as investors. You can see this internationally. People feel secure in seaside living,” Xerez-Burgos said.

“We evolved the setup. The next projects of Landco will no longer be like this. The market is different. Hotels—we still don’t have a hotel—more dynamic boardwalks, aquasports, in the years to come,” he added.

On corporate social responsibility, the realtor said: “We are looking at that, hosting orphanages. We are enjoining everybody to help us. Adopt an orphanage for a day, all-day fun and activities. This is something that they will remember. It is our way of contributing to society.”