Urdaneta Villas to resume development
It’s all systems go.
Another indicator of a renewed investors’ confidence in the Philippines is the plan of an aggressive international land development and acquisition company to participate in the development of the Urdaneta Villas in the fast-booming eastern city in Pangasinan.
This was jointly announced by Pink Umbrella chairperson Josephine Edralin, president Joana Edralin Bautista and vice president Jo Victoria Edralin Yupangco who both reaffirmed their commitment to invest in the Philippines.
“We will start developing the high-end housing projects to be sold to Filipino-Americans in the United States particularly those who are retiring in their native land and are now allowed to own property by virtue of the dual citizen’s law,” Josephine Edralin said.
The Pink Umbrella, a troika of all-Filipino-American power ladies in the United States, has projects in the US, Asia and Latin America.
The three Fil-Ams leave on Tuesday for Beijing for a three-day formal talks and negotiations with Marriot Beijing owner and president Jun Liang.
“We are excited to seal this Marriot Hotel venture which will be a testament to China’s booming economy as well as the forthcoming 2008 Olympics in Beijing,” Edralin said.
Pink Umbrella is also negotiating for the acquisition of another five-storey former tourist hotel property on California Street, located near Powell Street on San Francisco’s famed Nob Hill.
“The property is proposed to be converted into a 21-unit residential condominium project or a luxury fractional ownership or private residence club project,” Edralin disclosed.
The Edralins are also engaged in a vineyard venture, the Chateau Fontainebleau Vineyard at St. Helena in Napa Valley town in Napa Valley, San Francisco, California. It’s new wine label is named Josephine Cabernet Sauvignon.
Chateau Fontainebleau is strategically located in Napa Valley floor where temperature, rainfall and alluvial soils combine in perfect measure to produce some of the world’s finest grapes, and award winning Cabernet Sauvignon.
Last year, Edralin brought the Chateau Fontainebleau team to examine the soil and temperature in the two provinces; Pangasinan and Ilocos in the Northern Philippines for a possible grape-growing project.
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