Megaworld, one of the largest real estate developers in the Philippines, has signed a $261 million (PHP15 billion) investment deal with Winford Resort for a three-hectare “new integrated lifestyle community” with “residential condominiums, hotels, and commercial developments with casino complexes” in Manilla
The $261 million casino project will be built at the San Lazaro Tourism and Business Park, known as the former site of the racetrack, which the company bought earlier this year for about $1.89 billion (about $32.92 million), according to Mega World.
The hotel & casino project will include hotels with residential apartments, commercial development and casino complexes, as well as “promenade,” which is expected to be “a major tourist destination on this side of Manila.”
The project was inspired by “Old Maniya with structural designs reminiscent of the pre-war era.”
Wilson Sy, first vice president and head of sales and marketing at Megaworld Manilla, said, “The promise of reviving Manila’s old beauty will be evident in the planned design of commercial development in this community.”
The company did not clarify whether Metro Manila would require its own regulated gaming license from Philippine regulator PAGCOR. 경마
As part of the project, we’d also like to showcase the 389-unit One Crown Suites condominium tower. PHP 3 billion sales are expected from this launch.