By Zinnia B. Dela Peña (The Philippine
Star) | Updated November 26, 2012 - 12:00am
MANILA, Philippines - Travellers Hotel
International Group, a joint venture between real estate tycoon Andrew Tan’s
Alliance Global Group Inc. (AGI) and Malaysia’s Genting Group, broke ground yesterday on the third phase of Resorts
World Manila, an integrated gaming and hotel complex in Pasay City.
Kingson Sian, president of Travellers,
said Phase 3 will include the construction of close to 1,000 new hotel
rooms. Plans include the establishment
of a Sheraton Hotel which will house about 350 rooms, another five-star hotel
(350 rooms) and the expansion of the all-suite Maxims Hotel, which will provide
an additional 200 rooms.
The new Phase, to rise on a three
hectare-property, will also entail the expansion of gaming and retail
facilities to adequately meet the needs of its clients.
Sian said Phase 3 will take three to
four years to complete considering the vast size of the project.
“This expansion only reflects our
confidence in the local economy. We’re
supportive of the government’s efforts to pump prime the economy. We believe tourism will be one of the most
promising growth areas,” Sian said.
Genting Berhad chairman chief
executive Tan Sri Lim Kok Thay said his group remains bullish on the
Philippines as seen by its continuing commitment to invest here. “We’d like to set an example to other
investors for them to follow suit,” he said.
Resorts World Manila, located near the
domestic and international airports, opened in August 2009 and is currently the
largest casino complex in the Philippines.
Tan, whose networth is valued at $2.1
billion by Forbes Magazine, is making a strong push into the gaming/tourism
industry. His flagship firm AGI has
interests in property (Megaworld Corp., Empire East Holdings and Suntrust), beverage
(Emperador Distillers Inc.), and fastfood (Golden Arches Development Corp;
which holds the master franchise for global giant McDonalds).
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