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

Deal #9829 Version #92844

Philippines

Created at

2023-01-24

Last update

2024-05-06

Last full update

2024-05-05

Land area

Intended size

10 821 ha

Size under contract (leased or purchased area)

[1974] 9915 ha
[1981, current] 8388.2 ha

Size in operation (production)

[1981, current] 8388.2 ha

Comment on land area

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

[1974, current] Food crops (9915 ha)
[1981, current] Non-food agricultural commodities (8388.2 ha)
[2020, current] Tourism (25000 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 the San Miguel Corporation (SMC) is transforming Bugsuk Island and other nearby Islands into a 25,000 hectare, 20Km long white beach resort. RS already shows a airport strip being created.

Carbon offset project

Nature of the deal

Lease

Negotiation status

[1974] Concluded (Contract signed)
[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 expanded into a pearl farm in 1981 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

[1974] In operation (production)
[1981, current] In operation (production)

Comment on implementation status

According to the local IP's, the project began operations in 1974 as a coconut farm, when they were denied access to their ancestral land. It was then expanded to a pearl farm and now planned to be a white beach ressort