TAGAYTAY CITY -- President Gloria Macapagal-Arroyo today led the groundbreaking and the capsule-laying rites for the first 100 percent Filipino culture-inspired resort here worth P10 billion.

Filipiniana Tagaytay Vacation Resort Complex, a 20-hectare estate along the Tagaytay National Highway, is committed to please both domestic and foreign tourists.

The facility, which actually stands on a real estate that forms part of Laurel, Batangas, will showcase Filipino culture, heritage and tradition.

Featuring distinctly unique Filipino concepts and motifs, the project is certain to encourage tourists, retirees and travelers to visit the Philippines. Its all-Filipino building design blends with and integrates modern amenities including a hotel, condotel, eco-parks and theaters.

Conceived as its ultimate tourism lure, however, will be its timely rendition of various Philippine festivities such as the Sinulog of Cebu, Ati-atihan of Aklan, Moriones of Marinduque, Masskara of Negros and the Panabenga Flower Festival of Baguio, among others.

"Promotion of such events doubly makes Filipiniana Tagaytay project a business and leisure home, and a major tourist attraction for the country," said Oriental Mindoro Rep. Rodolfo Valencia, owner of the Filipiniana Resorts Development Corp. Inc., the developer of the resort.

The project, which features three representational phases -- Luzon, Visayas and Mindanao – basks in the cool climate of Tagaytay and further boosts its surrounding landscape.

It also affords visitors a commanding view of the area’s green mountain ridge, the picturesque Taal Lake on which seemingly floats the majestic Taal Volcano.

Valencia said the total project cost will reach P10 billion including the P2 billion that will go to land development alone. Fifty percent of the total cost, he added, will be funded by a Singaporean firm partner, the City State Holdings Pte, Ltd.

The Luzon wing of the complex will include a hotel and world-class restaurants,144 condotel units, four- to six-storey low-rise condotel and a six-storey Bellview hotel-condotel.

The project’s Visayas wing will consist of four-storey condominiums, two-storey garden apartments, 17 units of typical villas clustered together, two-storey quadruplexes and other quadruplex structures.

The design of the Mindanao wing is still in the drawing board.

Valencia said majority of the buildings to be built will face Taal Lake with most of the units having an awesome view of the Taal landscape. The project, he added, is in support of President Arroyo's tourism program.

The President has tapped the tourism sector in her goal to create 10 million jobs before her term expires in 2010.

This project will also beef up the much-needed tourism infrastructure in the country.

Assisting the President in laying the time capsule were Valencia, Laurel Mayor John Benedict Panganiban, Ambassador Antonio Cabangon-Chua who is also an investor in the project, Tourism Secretary Joseph Ace Durano, Batangas third district Rep. Vicky Reyes, Manila Mayor Lito Atienza and Leow Siak Fah of the Citystate Holdings of Singapore.

Valencia likewise briefed the President on the project and presented her a scale model of the resort.