Queen’s Castle TEZ Tourism Enterprise Zone (TEZ) is a proposed mixed‐use tourism zone in the municipality of Medellin, province of Cebu. It is developed with a vision of creating a destination that will contribute to the steady increase in tourist arrival in the province, thereby creating more livelihood opportunities.
Queen’s Castle TEZ is a development by Phil‐URI Development Corporation, a 60% Filipino‐owned company registered with the Securities and Exchange Commission in March 2007, and organized as a real estate developer. It was created primarily to fund the development of Queen’s Castle TEZ but will be ready for other development ventures in the future. Its biggest stockholder is URI Pacific, which financed most of the development costs of the zone. It entered into a DTI‐approved long term lease contract with another Filipino‐owned company, URI‐Global Development Corporation, the landowner of the aggregate 70‐hectare property on which the proposed Queen’s Castle is taking shape.