Subic Freeport attracts $20-M leisure project

SUBIC BAY Freeport , Philippines – A new leisure project, estimated to cost about $20 million, will soon rise in this Freeport.

Subic Bay Metropolitan Authority (SBMA) chairman and administrator Roberto Garcia said Taiwan Vice President Annette Lu visited last week the site of the proposed project which would include the redevelopment of the Triboa Clubhouse and the construction and management of condominium buildings and luxury villas in the Triboa Area.

“This project strongly underscores the positive business climate in the Freeport as well as the fast-growing tourism industry here and in the rest of the country,” Garcia said.

Once completed, the project will feature three 10-story buildings, consisting of a 40-room hotel, a 20-unit VIP condominium with a car elevator and a regular condominium with 90 units.

The project also includes the construction and development of five luxury seaside villas with a marina facility.

Garcia said the redevelopment of the Triboa Clubhouse, the site of the 1996 APEC summit, is expected to be completed within the year while the rest of the facilities would take two to three years to be fully developed.

“Aside from enhancing the tourism value of Subic, it will also generate an additional employment of 800 for our local communities,” Garcia said.

He said the project, which was approved by the SBMA board in November last year, would be undertaken by the MSK Group through affiliate companies Xantheng (Subic) International Corp., Weihsin Subic Bay Corp., and Zangyueh Development Corp.