loomberry chairman and chief executive Enrique Razon Jr. said the development of the property would be “similar to Solaire Resorts & Casino” in Pagcor Entertainment City in Parañaque.
“We will probably start developing that property next year. It will be a mixed-use development similar to Solaire with hotel and casino,” Razon said.
Surestre Properties Inc., the hotel and resort development arm of Bloomberry, acquired a 15,676-square-meter lot (1.56 hectares) within Vertis North in Quezon City for P1.97 billion last year.
The lot was part of National Housing Authority’s share in the joint venture between the government housing agency and property developer Ayala Land Inc. in the Vertis North project.
The company also plans to put up a new integrated resort in Cyprus, Argentina, Taiwan and Japan
Sureste bagged the property after submitting a negotiated offer, which was then accepted by the NHA, after two failed bids where the Bloomberry unit was the lone bidder.
Vertis North is a 45-hectare master planned development in the North Triangle property, including Trinoma mall.
ALI said it was pouring in P65 billion over a 10-year period to transform it into a mixed-use development with residential, shopping, retail, office and hotel components.
The $1.2-billion Solaire Resort & Casino is the first Philippine premium/luxury hotel and gaming resort in Entertainment City.
Phase 1 of the 8.3-hectare Solaire consists of a casino with an aggregate gaming floor area of 18,500 square meters (including 6,000 square meters of exclusive VIP gaming areas), with 1,400 slot machines, 295 gaming tables and 88 electronic table games. Phase 1 has 488 hotel rooms, suites and bayside villas and 15 specialty restaurants and F&B outlets.
After opening Solaire in 2013, Bloomberry ventured overseas with the acquisition of Jeju Sun Hotel & Casino in South Korea.
Apart from the hotel and casino on Jeju Island, the company also purchased the 20.96-hectare Silmi Island and a 12.20-hectare property on Muui Island also in South Korea.
It also plans to put up a new integrated resort in Cyprus, Argentina, Taiwan and Japan.