Guess what? A paradise is truly expensive to have, that a mysterious buyer paid P89 billion pesos for a 25-year lease of Fuga Island which means that the owner (Fuga Island Holdings) of the tropical paradise gains P 3, 560,000,000 yearly.

The tropical island was advertised on luxury property website Lamudi which reported that the deal was done by a real estate broker named John Mesina and an unknown American client.

In a statement, Jacueline van den Ende, managing director of Lamudi Philippines, said:  "With its vibrant and buoyant real estate market, buying property is becoming more fun in the Philippines.”

She added "Now the demand, especially from foreign clients, is spilling over to private islands and isles, which is not surprising as the country has over 7,100 of them to choose from."

So what’s on Fuga Island that a billionaire will lease it for a grandiose amount?

 Here’s what I’ve researched so far:

In an article dated Dec. 31, 1999 title “Fuga Island Gas Drilling Starts Next Month,” it mentioned:

“The Fuga Island prospect is seen to yield recoverable natural gas reserves of 5.24 trillion cubic feet of gas based on conservative parameters. Aside from natural gas, Fuga Island is also seen to yield hefty recoverable oil reserves at 1.36 billion barrels.”

So this means that aside from the white sand beaches, crystal clear waters, rolling terrain, rocky cliffs, and an incredible view of the sea. The lessee has something more to get on the island.

Despite his contract with the lessor, the island still falls to the hands of the Philippine government since it is part of Proclamation No. 1801 declaring Certain Islands, Coves and Peninsulas in the Philippines as Tourist Zones and Marine Reserve Under the administration and Control of the Philippine Tourism authority.

So, any development in the area outside of tourism will be barred by the Philippine government (unless they will approve it). Fuga Island and its surrounding port facilities are designated as part of the Cagayan Special Economic Zone (CEZA) and Freeport under Republic Act No. 7922.

Currently, nothing is known if what will be the plans of the mystery man who lease the island.