Please note: you are viewing an old version of this deal. The current version can be found here: Deal #9829

Deal #9829 Version #92843

Philippines
Created at
2023-01-24
Last update
2024-05-05
Last full update
2024-05-05

Land area

Intended size
9 860 ha
Size under contract (leased or purchased area)
  • [1974, current] 9915 ha
Size in operation (production)
  • [1981, current] 8388.2 ha
Comment on land area
Its farm spans 9,860 hectares of traditional fishing grounds for the Molbog and Palawan. In 1974, the 9,915 hectares of ancestral lands of the Molbog and Palaw'an Indigenous tribe was converted into a hybrid coconut plantation and nursery project. In 1981, the company owned by the Cojuangco's extended their project on the fishing grounds spanning 8,388.2 hectares was taken over to establish the Jewelmer Corporation's pearl farm,

Intention of investment

Intention of investment
  • [1974] Food crops (9915 ha)
  • [1981, current] Other (8388.2 ha)
Comment on intention of investment
In 1974, the 9,915 hectares of ancestral lands of the Molbog and Palaw'an Indigenous tribe was converted into a hybrid coconut plantation and nursery project. . In 1981, the company owned by the Cojuangco's extended their project on the fishing grounds spanning 8,388.2 hectares was taken over to establish the Jewelmer Corporation's pearl farm,

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [1981] Concluded (Contract signed)
  • [2023, current] Intended (Expression of interest)
Comment on negotiation status
In 1974, the 9,915 hectares of ancestral lands of the Molbog and Palaw'an Indigenous tribe was converted into a hybrid coconut plantation and nursery project. It was then converted to a pearl farm in 2023, there were reports from local community partners that that the San Miguel Corporation (SMC) is transforming Bugsuk Island and other nearby Islands into a 25,000 hectare, 20Km long white beach resort.

Implementation status

Implementation status
  • [1981, current] In operation (production)
Comment on implementation status
According to the local IP's, the project began operations in 1981, when they were denied access to their ancestral land