Eighteen months since Asia Pacific Projects, Inc. started formulating the master plan for the site, the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) gave its final approval of Panglao Bay's comprehensive tourism development plan and its designation as a Flagship Tourism Enterprise Zone (FTEZ).
The 56-hectare site will be developed as an integrated resort comprising: resorts catering to various demographic markets, a marine center and beach club, a convention facility, village market and shophouse development, an outdoor events center, and a habitat center. It will showcase uniquely Boholano vernacular and sustainable design in its architecture and operations. The development of the TEZ is expected to commence in 2018, in sync with the opening of the New Bohol International Airport in Panglao Island in 2019.
Panglao Bay is the first integrated resort in the Philippines to be designated as a Flagship TEZ.