Clark Freeport—A Korean firm is set to pour an additional P15 billion in investments into their leisure and resort complex project in the next three years inside this Freeport zone.
The additional investment was announced during the signing of the consolidated lease agreement between Clark Development Corp. president and CEO Noel F. Manankil and Widus International Leisure Inc. President Dae Sik Han.
In an interview, WILI assistant vice president for Corporate Planning and Compliance Agnes “Neki” Liwanag said Widus has committed to the additional investment to develop a new property that will complement their existing facilities here.
“This property that we got, which is around three hectares, is to supplement our current property, thus giving WILI a total of around 11 hectares of property to develop,” Liwanag said.
“For us to acquire the lease for this property, we committed to be able to have invested a total of P15 billion ($300 million) by 2022,” she added.
Part of the P15 billion committed by year 2022 is the ongoing construction of their hotel Tower 4, which is composed of 380 rooms, an expanded casino and the establishment of a retail area here.
Once the project is completed, Liwanag said this will fulfill WILI’s vision of making Widus “the first fully-integrated resort outside Metro Manila.”
WILI has already invested around $200 million in Widus Tower 1 and 2, the existing casino, and the Clark Marriott Hotel.
“We intend to bring in more branded hotels in Clark to ensure that Widus provides nothing but the best in the industry,” Liwanag added.