$1-B Entertainment City starts structural work

MANILA, Philippines - Bloomberry Resorts and Hotels Inc. (BRHI) recently announced the successful first concrete pouring for its $1 billion Entertainment City Project at the Philippine Amusement and Gaming Corp.’s (PAGCOR) Bagong Nayong Pilipino Entertainment City Manila in Parañaque City, signaling the start of structural works by contractor D.M. Consunji Inc. (DMCI).

Leading the concrete pouring ceremony was Enrique K. Razon Jr., chairman of property developer Sureste Properties, Inc. (SPI) and hotel and resorts owner BRHI, a subsidiary of SPI. In welcoming the guests, Razon said that he has high hopes that the project will help boost tourism in the country by providing a world-class, state of the art resort and entertainment facility.

Gracing the event were Senate President Juan Ponce Enrile, Parañaque City Mayor Florencio Bernabe, Parañaque City Vice Mayor Gustavo Tambunting, PAGCOR director Eugene Manalastas, Teresita Sy, chairperson of Banco de Oro, and senior officers from the DMCI Group.

Senator Enrile lauded Razon for the latter for using mostly Filipino expertise and tapping local partners for the project: from concept, design, and construction to project financing.

He predicted that with the project, Parañaque City would soon be home to the leading hotel complex in the country and in the region.

On the other hand, Mayor Bernabe thanked Razon for the project, which is expected to generate some 4,000 jobs once it starts operations by the third or fourth quarter of 2012.

The Entertainment City Project features an integrated resort facility including a five-star, 500-room hotel covering an area of 8.3 hectares.

It will also feature a state of the art meeting and convention and ballroom venues, restaurants as well as health and wellness facilities.

The Bagong Nayong Pilipino Entertainment City Manila is a multi-billion dollar project of PAGCOR, which covers 120 hectares of prime reclaimed land at the southeastern portion of the Manila Bay in Parañaque City.

It is also a registered economic zone under the Philippine Economic Zone Authority.