SBMA chairman and administrator Roberto Garcia and Resom Phils. chairman Sang So Shin sign an agreement for the construction of a P20-billion resort complex in the Subic Bay Freeport.
SUBIC BAY FREEPORT, Philippines – The Subic Bay Metropolitan Authority (SBMA) has signed a contract with Korean-owned Resom Resort Phils. (Resom) for the development in the Freeport of a P20-billion world-class tourism resort complex.
In a simple ceremony held last June 13 at the Freeport, SBMA chairman and administrator Roberto V. Garcia and Resom chairman Sang So Shin signed lease development agreements that would pave the way for the construction of the landmark tourism project.
The first phase of the project involves the development of a prime waterfront property previously known as the mini-golf course with a gross area of two hectares and a buildable area of 6,000 sqm.
Resom is committed to invest P1.2 billion for the construction of a luxury hotel with around 300 rooms, convention facilities, pool, spa, restaurants and other support facilities.
The project is being targeted to be ready to serve the Asia-Pacific Economic Cooperation (APEC) conference in November 2015.
The second phase of the project would cover the development of the Resom City tourism complex involving several properties in the Naval Magazine area covering around 300 hectares.
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This would include the construction of a world-class resort complex that would have hotels, condominiums, a theme park, luxury pool villas, casino and gaming operations, a waterpark and spa, health and wellness center, duty free shopping, and a championship golf course.
This phase involves an investment commitment of around P19 billion and is expected to take around four years to complete.
According to Resom chairman Shin, the Subic Resom City project would be their centerpiece development.
Resom presently owns and operates four world-class resorts namely, Ocean Castle, Resom Waterpark and Spa, and the Forest Villa resort all in Korea, and a championship golf course and resort in Weihai, China. Resom operates a time-share membership chain and certain of their facilities are open to the public as well.
During the contract signing, chairman Shin said that he loves nature and that Resom always develops their resorts by keeping and preserving the environment as a main priority.
He said the natural beauty of the forests and waters in Subic are the main features that convinced him that Subic is the ideal choice for their centerpiece resort.
On the SBMA side, chairman Garcia welcomed the world-class resort project as a great tourist attraction that would draw millions more of local and international visitors to the Subic Bay Freeport and establish it firmly as one of the country’s major tourism destinations.
“This hopefully will contribute substantially to the country’s tourism campaign,” Garcia added.