Creato da yasuperbiz il 24/11/2009

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Post n°19 pubblicato il 24 Novembre 2009 da yasuperbiz

Tag: cronaca, curiosita, economia, eventi, gossip, internet, italia, lavoro

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By Honey Madrilejos-Reyes
BusinessMirror Reporter

Businessman William Gatchalian is partnering with a Macau-based company to put up a $500-million to $1-billion hotel and casino within the Bagong Nayong Pilipino Manila Bay Integrated City Project.

In an interview, Gatchalian said the joint venture plans to build the Grand Waterfront Hotel and Casino in a 5-hectare lot in Bagong Nayong Pilipino. He declined to reveal, though, the identity of its partner due to a confidentiality agreement.

The hotel will have 2,500 rooms, he said. Construction will begin in 2009 and will be completed after four years.

Gatchalian is known for his investments in the hotel sector through the Waterfront chain of hotels, mining exploration via Wellex Mining and manufacturing.

The establishment of the Bagong Nayong Pilipino is led by the Philippine Amusement and Gaming Corp. .

It will sit on a 90-hectare property in the Manila Bay reclamation area and will feature leisure and entertainment facilities, including a theme park, theaters, amusement and cultural centers, retail and gaming centers and hotels.

Pagcor aims to use the Bagong Nayong Pilipino as a catalyst to sustain the growth of the countrys tourism industry. It hopes to attract at least $8 billion in investments and generate about 200,000 jobs once the entire development is fully completed.

Earlier, listed Alliance Global Group Inc. said it was in talks with Star Cruises Ltd. for a joint venture to develop a $1-billion integrated leisure and resort.

Star Cruises, the worlds third-largest cruise operator and an affiliate of the Malaysian conglomerate Genting Group, is interested in acquiring up to 40 percent of Travellers International Hotel Group, Inc., a wholly owned subsidiary of AGI.

Travellers International will be used as the vehicle to participate in the governments ambitious plan to put up a multibillion-dollar integrated tourism zone, the countrys version of Las Vegas.

“Our proposal comes at an opportune time when there is increasing awareness of the Philippines as a tourist destination, with the country achieving a milestone in 2007 with a record three million tourist arrivals for the first time in its history,” said AGI chairman Andrew Tan.

Part of the plan is to build hotels with minimum of 1,000 rooms spread out over several phases of development.

“Star Cruises interest in the project is a strong testament to foreign investment interest in the underlying attraction of the Philippines as the hub for leisure and entertainment, and a vote of confidence in the countrys economy and tourism industry,” Tan said.

The other companies which have signified interest to invest in Bagong Nayong Pilipino were Japans Aruze, Genting Group, Bloomberry of Australia and SM Investments Corp.