BELLINGHAM, Wash., Sept. 4, 2007 (PRIME NEWSWIRE) -- Asia Properties, Inc. or "API" (Pink Sheets:ASPZ) today applauded The Philippines achievement of Second Quarter Gross Domestic Product (GDP) of 7.5%.
The Philippines is on its way to achieving record economic growth this year, the best performance in two decades during the second quarter, the government announced. GDP grew by 7.5% in the second quarter, better than the first quarter's 7.1% growth, and last years 5.1%.
"API is pleased to be in the right place, at the right time," said Asia Properties, CEO, Daniel McKinney. The Company announced on August 21st that its Philippine representative had signed a purchase agreement to acquire ninety-nine (99.41) hectares (approximately 245.64 acres or 994,110 sq. metres) of beach-front land on an island 20 kilometers offshore from Camarines Norte, Philippines.
The Philippines has been ranked by the WTTC as one of the fastest growing tourism and travel markets in Asia. The proposed island resort destination will benefit from the growth in this service driven economy.
Please see photo: http://www.asiaprop.com/Tinaga%20Island%20-%2013.jpg
API plans to create a new tourist destination with four, five and six star resorts with major international hotel brands managing the resorts.
About Asia Properties, Inc.: Asia Properties, Inc. was established to develop resorts and prime real estate in Thailand and Southeast Asia. Asia Properties currently operates as the only listed U.S. public company focusing on S.E. Asian real estate investments. API is a Nevada corporation and trades on the Pink Sheets under the symbol "ASPZ." There are currently 39,427,112 fully diluted shares consisting of 16,672,740 free trading and 22,754,372 restricted. The transfer agent is Computershare, Inc. of Golden, Colorado.
For up to date corporate information about Asia Properties, Inc. contact Daniel McKinney (360) 392-2841 or (http://www.asiaprop.com). For Investor Relations, call Dennis Burns. Tel 567-237-4132 email: dennyburns@stealthpost.com
Statements, which are not historical facts, are forward-looking statements. The Company, through its management makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessary estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors, factors which could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements.
The Asia Properties, Inc. company logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=1733