PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

Bataan freeport to host P300-M resort complex

By Raffy C. Viray (The Philippine Star) | Updated September 16, 2013 - 12:00am

Balanga City, Bataan , Philippines   – A resort development and construction conglomerate will pour an initial of P300 million for the lease and enhancement of tourism facilities in the Freeport Area of Bataan (FAB), an industrial and ecological complex in the first export processing complex in the country.

The Authority of the Freeport Area of Bataan (AFAB), which manages the complex, and the LKY Group signed recently an agreement for project that aims to transform the industrial complex into a leisure hub and complete lifestyle community, with the objective of making the peninsula the premier-investment haven and tourist destination in the country.

“This project will further improve facilities in the FAB that can spur investments and create new jobs and at the same time, provide work-life balance to our locators and the FAB community,” said AFAB Chairman Deogracias G.P. Custodio.

Under the project, Custodio said, about 130,000 square meters of land in the freeport would be developed, including its existing four-storey Hilltop Hotel, tennis and badminton court, club house, shopping center, bowling complex, cinema, and other amenities.

The target completion of the FAB Leisure Hub project is set within two years.

LKY Group, headed by Wilbert Lee as its president and general manager, has been revolutionizing the development concept of transport terminals, hotels and resorts, commercial leasing, retail marketing, construction and property development, food operations, travel and tours, and housing, for more than 30 years .

While FAB is home to more than 70 companies engaged in producing high-end brands of garments, apparel, shoes and accessories like bags and jewelries, among others, it is also looking into investment partnerships in cargo port/ferry port industry and industrial estate development.

Meanwhile, Bataan Governor Albert Raymond Garcia has strengthened further his priority programs to hasten economic growth of Bataan with the preparation of a tourism master plan  which is geared toward job creation and income for the province.

“Before, Bataan is much more known locality in the country because of its rich historical background and heroic stand of Filipino and American soldiers during World War II. Now, we have partnered with the Department of Tourism to create a tourism master plan,” said Garcia during the recent opening of Executive-Legislative Agenda Formulation at the Capitol compound.

real estate central philippines
Copyright ©2008-2018