Bagong Nayong Pilipino Entertainment City Manila soon to rise!
June 13, 2009 by admin
Filed under Featured Content, Pinoy News and Culture
The construction of Pagcor City aka Bagong Nayong Pilipino Entertainment City which will house an integrated resort with a world class theme park, casinos, shopping malls, sports arena and other leisure activities are underway.
Watch the video below The Bagong Nayong Pilipino Entertainment City Ad as seen on CNN,
PHILIPPINES INVESTORS DEPOSIT US$300 MLN FOR PAGCOR COMPLEX
MANILA, Jun 12, 2009 (AsiaPulse via COMTEX) — AZECF | Quote | Chart | News | PowerRating — The three main investors in a Philippines casino development have deposited US$300 million – US$100 million each – with Pagcor as assurance of their commitment to the project.
SM Group, Genting Group of Malaysia and Aruze Corp. of Japan are the major investors in the 100-hectare Bagong Nayong Pilipino Entertainment Complex along Manila Bay in Pasay City, and intend to pursue plans to develop the property into the country’s premier entertainment complex.
“We want to be assured they are committed to do the project and push through with their plans,” said Philippine Amusement and Gaming Corp. (Pagcor) chairman Ephraim Genuino.
Initial investments for the project are expected to reach US$6 billion.
About 100 hectares of the 120-hectare track of the Pagcor property are already allotted to these three developers.
Genuino said SM would kick off construction in 60 days with the fencing of the property that it was going to develop.
The first phase of the three-phased development is expected to be completed in two to three years. It will include hotels, sports arena, museum, world class theme park, and an oceanarium.
Genuino is trying to allay the fears and opposition from some sectors that Pagcor is turning the massive development into a version of Macau-Las Vegas gambling fame.
“Only three per cent of the entire development along the Manila Bay is related to gaming and casinos,” he said. The Genting Group would be the developer for the casino and gaming portion.
The larger chunk of the complex would be composed of tourism, entertainment and leisure, and sports facilities.
Included in the new entertainment complex is the already-developed section spanning about 300 hectares that contains the sprawling Mall of Asia complex.
The government has been constantly pushing for the development of the Bagong Nayong Pilipino Entertainment City, which Genuino said would create about 200,000 jobs.
The original Nayong Pilipino located near the airport had been closed. It used to showcase the country’s pride including famous tourist spots with a touch of history and culture.
Genuino said there were some new foreign operators that had expressed an interest to put additional investment into the complex.
He said these three foreign groups – American, European and Korean – all had existing gaming operations elsewhere and were currently being investigated and assessed by Pagcor to determine if they could also take part in the development of Pagcor City. He did not give further details.
Among the requirements to be part of the Pagcor City development were a minimum investment of US$1 billion towards the investor’s intended projects which should be completed in five years and the submission of a concept plan and design.
It would take between three to six months before Pagcor could then determine if these potential new investors could participate, Genuino said.
source: http://www.tradingmarkets.com/
Popularity: 2% [?]
Related posts:
- “Ortiz Dental Clinic” opening in Davao City this June! “Ortiz Dental Clinic” will open on the second week...
- “Ortiz Dental Clinic” Davao City branch is now open! We are now open from 9:00 a.m.- 7:00 p.m....
- The Pussycat Dolls Live in Manila! Clear Anti-dandruff shampoo and MTV Philippines will present A...
- Narda to Darna transformation got 47.5% rating in Mega Manila! Marian Rivera’s transformation as Darna last Tuesday, Aug. 18,...
- “Manila” official poster and trailer! Piolo Pascual’s first co-produced independent film “Manila” will have...
Related posts brought to you by Yet Another Related Posts Plugin.
is this project really pushes through. its in the news all the time but we cant see any sign of initial construction in the area, what’s really the status of this project?
Sana naman, ma maintain nila ang ganda ng lugar na ito simula sa una hanggang sa future, kasi dito sa’Pinas, magnda lang ang mga parks, at public places, saa unang taon lang, at tapos di na ma maintain ang lugar kaya pumapangit at napapabayaan na. Tulad na lang ng mga parks natin at LRT di na magamit ang mga escalators at mga cash machines.
Pagcor City will be wasted.
Instead of this self indulging recreational avenue why not the Metro Manila think tank and stakeholders start meeting on how to save MANILA from high rising of water in 20 years. As the scientists foresee, most of the tall infrastructures will be covered with water. London and Singapore are now very ready spending more $2B each to save their cities.
In 20 years the place will have reached its feasibility ceiling.
para na sa macau! good news yan more jobs para sa pinoy
nice!
suportado ko to!
madaming matutulungang pilipino to!
sana mabilis matapos para hndi n tau maiwan ng ibang bansa!
tsaka para umunlad n ang pilipinas!
^_^
Sana maumpisahan na ito. Malaking tulong ito sa mga filipino. Madagdagan ang hanap buhay ng mga filipino.
Go Philippines!
it’s really a good help for most of the filipinos who are jobless. hope it will start soon…kailan kya?
..im Looking Forward on this Huge project of the goverment , this will be a resources in terms of poverty and also in tourism… i hope this one can be liked the beautiful country like japan..and can be the way that the other country see more about the Philippines.. mabuhaY…
ou nga sna matuloy ito pra nman may mga mataas na infrastructure tau na pde natin ipang tpat sa petronas tower at taipei 101,
kaya taung mga pilipino stop na un mga nega attitude, mag pasalamat nlang tayo na khit na marami ang may ayaw sa gobyerno ntin ay naiisip pa rin nila ung mga ganitong project at mlaki ang maitutulong stin nito dahil mraming trabaho ang nakahintay dito, ipag dasal na lang ntin na sna nga ay matuloy ito….