P20-B tourism complex to rise in Subic Bay Freeport
MANILA, Philippines - The Subic Bay Metropolitan Authority (SBMA) has signed a contract with Korean-owned Resom Resort Phils. (Resom) for the development a P20-billion world-class tourism resort complex in the Freeport.
SBMA chairman and administrator Roberto Garcia and Resom chairman Sang So Shin last week signed lease development agreements that would pave the way for the construction of the landmark tourism project.
The first phase of the project involves the development of a prime waterfront property with gross area of two hectares.
Resom committed to invest P1.2 billion in this phase for a luxury hotel with around 300 rooms, convention facilities, pool, spa, restaurants and other support facilities.
SBMA said this phase would be ready by the time the Philippine hosts the Asia-Pacific Economic Cooperation Conference in November 2015.
The second phase of the project will cover the development of the tourism complex spanning 300 hectares.
The complex that will feature hotels, condominiums, a theme park, luxury pool villas, casino and gaming operations, a waterpark and spa, health and wellness center, duty free shopping, and a championship golf course.
This phase will require an investment of around P19 billion, and is expected to take 4 years to complete.
Resom owns and operates 4 world-class resorts, namely Ocean Castle, Resom Waterpark and Spa, and the Forest Villa resort all in Korea, and a championship golf course and resort in Weihai, China. - Rappler.com