Mystery billionaire buys private island in Philippines for $2 billion

by -
3187

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.”

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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. 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...

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.”

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

2 COMMENTS

  1. Mr. Conrado Maramag I would like to inform you that the plan to develop Fuga island is a hoax. China will develop
    the island as Smart City, resort or whatever plan they are calling it but it is not true. China is interested on Fuga because of its location. China will turn the island into a secret military installation. Check the location it is between Taiwan and Luzon. The island population is only 2000, it is privately owned and they can do anything on the island once they have it.

Leave a Reply