Mystery billionaire buys private island in Philippines for $2 billion

by -
1087
Reading Time: 1 minute

WCRPBQW5BCLast week, an American buyer, who has remained incognito, shelled out $2 billion for a 25-year lease on a paradise island called Fuga in the northern Philippines.

Fuga is a 10,000-hectare remote island dotted with white beaches and turquoise blue waters. Fuga’s 1,786 inhabitants live in a village while the rest of the island is uninhabited with vast swathes of forestation.

The Independent reports that the website Lamudi, which is used by real estate agents around the world to advertise their luxury properties and through which the Fuga island deal has been sealed, has seen a sharp increase in sales and lettings of private islands in the Philippines.

Jacqueline van den Ende, managing director of its operations, told the paper: “With its vibrant and buoyant real estate market, buying property is becoming more fun in the Philippines. Now the demand, especially from foreign clients, is spilling over to private islands and isles, which is not surprising as the country has over 7,100 to choose from.”

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 1 minute

Last week, an American buyer, who has remained incognito, shelled out $2 billion for a 25-year lease on a paradise island called Fuga in the northern Philippines.

Reading Time: 1 minute

WCRPBQW5BCLast week, an American buyer, who has remained incognito, shelled out $2 billion for a 25-year lease on a paradise island called Fuga in the northern Philippines.

Fuga is a 10,000-hectare remote island dotted with white beaches and turquoise blue waters. Fuga’s 1,786 inhabitants live in a village while the rest of the island is uninhabited with vast swathes of forestation.

The Independent reports that the website Lamudi, which is used by real estate agents around the world to advertise their luxury properties and through which the Fuga island deal has been sealed, has seen a sharp increase in sales and lettings of private islands in the Philippines.

Jacqueline van den Ende, managing director of its operations, told the paper: “With its vibrant and buoyant real estate market, buying property is becoming more fun in the Philippines. Now the demand, especially from foreign clients, is spilling over to private islands and isles, which is not surprising as the country has over 7,100 to choose from.”

 

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid