Operator News
Philippines – Megaworld to double investment in Westside City Resorts World
By Phil - 27 February 2018
Megaworld Corporation, a company fronted by Andrew Tan, is doubling its investment in Westside City Resorts World complex, which will open in 2021 in Entertainment City, Manila Bay.
Megaworld said it would ‘invest an additional P54bn for a period of 10 years, more than five times the initial P10bn that was allocated in 2015, mostly for residential and hotel projects.’
Andrew Tan also owns Travellers International, the company which operates Resorts World Manila in partnership with Genting.
Travellers will invest $1.1bn (P57.4bn) in the casino project.
Megaworld Senior Vice President and treasurer Francis Canuto, said: “While a big portion of Westside City will be handled by Travellers International, Megaworld is pouring in a huge amount of money to expand our residential and hotel offerings within the township. The demand is high and we want to tap every available opportunity in this booming side of the metro.”
Megaworld is set to build two new homegrown hotel brands in Westside City, just in time for the initial opening of the casino complex in 2021. These are the 529-room Kingsford Hotel and the 685-room Grand Westside Hotel, which will be conveniently linked to the casino complex and will have the unparalleled views of Manila Bay.
“We give our all-out support to the country’s growing tourism industry. Providing more hotel options will further boost tourist arrivals especially in this growth area,” explains Mr. Canuto.
Aside from the hotels, Megaworld is also building the 15-tower Bayshore Residential Resorts, and the four-tower Gentry Manor. So far, Westside City has around 4,000 units of residential inventory worth around P50bn.
Once completed, Westside City will also be highlighted by a luxury mall and hotels as well as a wide array of leisure and entertainment facilities.
Westside City is aiming to become the Broadway of Asia with facilities for the performing arts including the Philippines’ first Grand Opera House that has a total capacity of 3,000.
Westside City will be the fourth integrated resort and casino rise in Entertainment City. The first three are Solaire Resorts, City of Dreams Manila and Okada Manila.
