BELLINGHAM, Wash. and HONG KONG, Nov. 6, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. (Pink Sheets:ASPZ) today applauded the Philippines record achievements in tourist arrivals for 2007.

Philippine Tourism Secretary Joseph Ace Durano stated that: "This will be a milestone year for the tourism industry," and "first semester statistics registered more than 1.5 million foreign tourist arrivals, and with the upbeat and sustained momentum of visitor influx into the country, we are looking at breaching, for the first time, the three million mark by year end."

The latest figures released by the Department of Tourism (DOT) show that arrivals for the first half of the year registered a 7.6 percent growth compared to the same period last year. With this welcomed development and the upcoming peak season, the department also foresees increased tourism revenues to reach as high as US$2.9 billion or PhP133 billion this year. Visitor expenditure growth averaged 20.11 percent over the last three years, making the industry one of the top dollar earners.

Asia Properties CEO, Daniel McKinney said, "This is welcomed news, as I am currently in Manila finalizing our first acquisition of 100 hectares (approx. 250 acres) of the island property which includes pristine white sandy beach frontage. We anticipate signing several more sales and purchase agreements soon, which we are currently negotiating. API's goal is to develop several four, five and six star resorts with major international hotel brands, which we are currently in discussions to manage those resorts."