Friday, May 8, 2009 [ sunstar.com.ph ]
ANGELES CITY -- A Filipino-Swedish firm is set to infuse $2.5 million for the construction of a world-class townhouse and condominium-hotel in this city soon.
The project, in partnership with Edifice Global Development Enterprise Inc. (EDGE, Inc.) and NJ Homes Inc., will be located in Barangay Malabanias, this city, outside of Clark Freeport.
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Swedish investor Bengt Gunnar Jonasson, president and chief executive officer of NJ Homes, said the group decided to infuse their investment in this city because of its proximity to the former US-run military facility, which is now becoming one of the best investment locations in the country.
With the existing business ventures in Clark and the development of a premier international airport, Jonasson said Angeles City is the next area that will have the windfall of development.
"We have to take advantage of growth of Clark in the next few years," Jonasson added.
Asked why they invested during the height of world financial crisis, EDGE Inc. president Angel Tamayo said business leaders should be "contrarian" to counter the economic crisis.
"Sooner or later, the crisis will be over, and we will be left behind if we will not prepare ourselves this early," said Tamayo, adding that this is the right time to put investments to ease the ongoing crisis.
The project will include famous interior designer Budyi Layug to add quality to the tourism-related project to be established in the city.
More than 100 construction workers will be involved in the project, which will include the construction of scenic waterfalls, swimming pool, wellness spa, fine dining restaurant, top bar, and entertainment and music hall.
The project, which was launched recently, included the groundbreaking and capsule-laying ceremonies spearheaded by Jonasson, Tamayo, and Guagua Rural Bank president Joseph Carlos Jr. (Ian Ocampo Flora and Reynaldo Navales)
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