TKC Land Inc., the property development unit of the Tiu family, is expecting to book over P5.5 billion from the sale of units of Discovery Primea, its flagship project located on Ayala Avenue in Makati City.

In an interview, company director for corporate planning John Y. Tiu Jr. said the plan is to sell 86 units, with an area of 380 to 400 square meters, at P50 million to P60 million each and four penthouse units priced at P100 million each.

The rest of the units will be offered as service apartments to be leased out.

“We have started demolishing the old building on the site and hopefully we can break ground by the first quarter of 2009. We expect to finish the project in four years,” said Tiu.

Discovery Primea is a 68-story development, of which the first 18 floors will consist of service apartments. Situated in the Makati Apartment Ridge, the project will also feature fitness facilities, a luxury spa, 24-hour concierge, an in-house clinic and executive valet service to residents and guests.

Tiu said the development of the project may require investments of about P5 billion.

JTKC Land wholly owns Discovery Leisure Co., the Tiu family’s holding firm for its chain of hotels. Discovery operates the Discovery Suites in Ortigas, the 88-room Discovery Shores in Boracay, and the Bed & Breakfast in Tagaytay.

The family has been in the hotel business for over three decades now with initial developments in Manila. Apart from the hotel business, the group is also into money transfer via i-Remit, steel manufacturing through TKC Steel Corp. and financial services via Sterling Bank.

The group, just like other big businesses in the country, strongly believes that there is vast opportunity in a time of crisis.

Proof of this belief is its plan to invest in tourism-related sector around Asia via acquisitions or partnerships. “We are studying prospects within the region,” said Tiu.

Tiu did not say which countries in Asia they are particularly interested on but said, “We are exploring new opportunities and looking to acquire for our Discovery brand”.

Onshore, the group is also setting its sights on Coron and San Vicente, two of Palawan’s more popular tourist destinations as potential sites for resort-type developments.

However, Tiu said, their entry into these areas largely hinge on the completion of important infrastructures like the airports.

“I think the government is doing efforts to put in place the necessary infrastructures to make these areas more appealing to investors. We are monitoring that development,” he said.

The group already purchased a property in San Vicente in northern Palawan, a place known to have one of the longest white beach shorelines in the country.