[ Malaya.com.ph ] May 17. 2010
Realty firm Belle Corp., is eyeing a 10 percent increase in operating profit for the year, as it expands on its project portfolio in its flagship project Tagaytay Highlands. The company is starting on initial works for the P9 billion integrated leisure facility that will be constructed in the vicinity of the government-initiated Pagcor City in Paranaque.
Belle chief finance officer Emmanuel Gana said the company is spending "between P600 million to P700 million" this year for Tagaytay Highlands where two new phases "Nob Hill" and "Yume" will be added into the existing phases in the 1,700 hectare estate.
Nob Hill and Yume will be launched in the second, according to Gana.
The company is also planning to spend a total of P7 billion for the planned Tagaytay Highlands Tourism Economic Zone in Tanauan Batangas, a 272-hectare master-planned integrated resort complex which will be added into the existing Tagaytay Highlands estate.
The Tourism Eco-Zone will feature tourist facilities and activities for nature adventure and sports and recreation like a 9-hole golf course and water sports facilities, high-end-hotel accommodation facilities, healthtels, wellness clinics, retirement villages, farm lots, and others.
Piling works at the same time has already started in the P9 billion integrated leisure facility, which will be developed under unit Premium Leisure and Amusement, Inc., (PLAI) and will be anchored by a hotel-casino complex in a 4.2 hectare property in Paranaque City. PLAI is formerly an SM Group of companies unit that was awarded a casino franchise that can be operated within the vicinity of what will soon be called Pagcor City.
The project will also have a retail component and will be developed in three phases, said Gana.
PLAI will be operated in partnership with listed Leisure Resort World, Corp. (Leisure Resort), with the latter responsible for the locators for the casino.