Filinvest, one of the top real estate companies in the country, has announced that they would be investing $200 million in the Clark City integrated resort in the Philippine. Filinvest Development Corporation (FDC) has received a provisional license from Philippine Amusement and Gaming Corp (PAGCOR) for the new project.
The funds will be used to develop the project further. The venue will have a casino, a five-star hotel and also a big convention/conference hall. It will also host a shopping complex.
The idea behind the project is to create a luxury casino resort with many amenities and top accommodation facilities to draw international tourists. The project is located in near the airport. The company is also eyeing at overseas tourists from the Asian countries and also at the locals.
When the company got the license to develop the property FDC president and CEO L. Josephine Yap had said that, “Now that we have secured the provisional license, we foresee further upsurge in tourist arrivals upon completion of the various project components. Its enviable location close to Clark International Airport makes it accessible to both domestic and international tourists.”
The site of the new casino is a sprawling 201 hectare land at the center of the Clark Special Economic Zone and is only 50 miles away from the country’s capital and gambling hub Manila.
The 201-hectare project would be located in the heart of the Clark Special Economic Zone, making it an ideal location to attract tourists.
“We see a lot of potential in this area, as Central Luzon registered 7.2 percent GDP growth in 2018, higher than the national growth rate,” Yap said.