By Jenniffer B. Austria | Jul. 21, 2014 at 12:01am [ manilastandardtoday.com ]
Belle Corp., which has confused the stock market about its corporate mission, is still dreaming big. Belle this early is looking for an available land near City of Dreams Manila, its gaming project in a reclaimed portion of Manila Bay that is set to open later this year.
One potential acquisition for the expansion project of City of Dreams Manila is the huge property owned by the Wenceslao Group, which was originally planned for development as the Alphaland Bay City in joint venture with Alphaland Corp. Alphaland, however, recently transferred it stake in Alphaland Bay City to London-based private equity fund Ashmore Group.
Belle also owns a 4,000-square-meter lot beside City of Dreams Manila, which could also be considered for possible expansion. “We are looking for deals in the vicinity but without any firm offer to us we cannot react on that. But there are still many empty properties within the area,” Belle vice chairman Willy Ocier said.
“At the right price anything is possible,” he added.
The expansion project, meanwhile, needs the approval of Philippine Amusement and Gaming Corp.