‘This reclassification will enable HPI to attract a wider range of investors to its 455.60-hectare leased property.’
PEZA director general Tereso Panga (right) and HPI corporate secretary Mitchell Estacio show the supplemental agreement to reclassify HPI’s Hann Reserve property to a mixed-use Special Economic Zone encompassing manufacturing, agro-industrial, tourism and information technology sectors.
Photograph courtesy of PEZA
The aim of Hann Philippines Corporation (HPI) to establish a world-class sustainable development and luxurious hospitality business will now come to fruition, as the Philippine Economic Zone Authority (PEZA) has sealed a supplemental agreement (SA) for the registration and reclassification of its Hann Reserve property.
Hann Reserve is a 450-hectare mixed-use special economic zone that integrates tourism, manufacturing, agro-industrial, and information technology sectors under one sustainable development framework.
In a Facebook post, PEZA stated that Director General Tereso Panga and HPI Corporate Secretary Mitchell Estacio sealed the SA on 19 August at the PEZA head office, reaffirming PEZA’s commitment to attracting investments and shaping future-ready economic zones.
According to the investment promotion agency (IPA), HPI requested PEZA to reclassify its ecozone from a Tourism Economic Zone to a mixed-use Special Economic Zone encompassing manufacturing, agro-industrial, tourism and information technology sectors.
“This reclassification will enable HPI to attract a wider range of investors to its 455.60-hectare leased property,” PEZA’s communications team said.
Pivotal for ecozone growth
Panga welcomed the signing as a significant step in ecozone development, stating: “This reclassification of Hann Reserve ushers in a new era of ecozone development, one that fuses industry, innovation, agriculture, and tourism into a single, sustainable engine of growth.”
With the landmark agreement, PEZA and HPI are positioning Hann Reserve as a pioneering model of mixed-use ecozone development.
“Beyond harnessing the country’s global investment competitiveness, this initiative strengthens PEZA’s mission of eco-zoning the Philippines towards inclusive, balanced, and sustainable growth, with the countryside at the heart of progress,” according to Panga.
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