Hotels, mall, more planned for complex
Megaworld Corp., which describes itself as the Philippines’ No. 1 office developer and landlord, has announced it will “invest an additional P54 billion (US$1 billion)” over 10 years in the Westside City Resorts World complex in Manila’s Entertainment City. That’s “more than five times the initial P10 billion that was allocated in 2015, mostly for residential and hotel projects,” the company stated.
Megaworld CEO Andrew Tan, whose reported net worth exceeds $2 billion, also owns Travellers International, the company that operates Resorts World Manila in partnership with Genting. Travellers will invest P57.4 billion (US$1.1 billion) in the casino project.
“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,” said Megaworld Senior Vice President and Treasurer Francis Canuto. “The demand is high and we want to tap every available opportunity in this booming side of the metro.”
Megaworld plans to add two new hotel brands—Grand Westside and Kingsford—in time for the opening of Westside City in 2021.
“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,” said Canuto.
Megaworld is also building the 15-tower Bayshore Residential Resorts and the four-tower Gentry Manor. When complete, the resort complex will have a high-end mall and additional leisure and entertainment facilities.
The company said Westside City will be “the Broadway of Asia” with a 3,000-seat Grand Opera House. Westside City will be the fourth integrated resort and casino rise in Entertainment City, joining Bloomberry Resorts’ Solaire; Melco’s City of Dreams Manila; and Okada Manila.
