MJC Investments eyes new investors for property projects

Manila, Philippines - MJC Investments Inc., an investment holding company led by the Reyno family, is in talks with potential investors to help fund its various real estate projects which include a hotel and entertainment complex in Sta. Cruz, Manila as well as a tourism hub in Occidental Mindoro.

The company is raising its authorized capital by more than three-fold to P5 billion to facilitate the entry of new investors.

MJC Investments’ proposed hotel project will rise on a 7,500 square meter property within the San Lazaro Tourism and Business Park. The property was subject of a share swap deal entered into with Manila Jockey Club in exchange for 600.8 million shares of MJC Investments.

The planned world-class hotel is seen to complement the ongoing joint venture projects of Manila Jockey Club and Ayala Land, which comprise retail, residential and commercial areas.

The upscale hotel, which will rise above a retail center, is expected to meet the demand for luxury hotels in Manila.

MJC Investments has yet to tap a partner that will operate the hotel since talks with the Accor Group bogged down.

MJC Investments is also building a master-planned tourism complex with a golf course and marina in a 74-hectare coastal resort property in Mamburao, Occidental Mindoro.

The company is looking to construct a 3,000-square-meter lot in Boracay into a condotel.