Widus signed a 450 hectares lease agreement to amplify its presence in Clark, Philippines.
Philippines.- Widus Group, has signed an agreement to lease around 450 hectares of land in nearby New Clark City. The company, which owns and operates Widus Hotel & Casino in Clark, Philippines, will develop major projects in the city; three golf courses and four hotels as part of its ongoing expansion plans.
The €213,4 million investment to develop a resort (Hann Lux) is aimed to start in 2020 and last for 10-years. The agreement was signed between Widus and BCDA – Bases Conversion Development Authority.
Moreover, the contract’s activities dropdown features different execution phases:
Phase 1, which will cost €89,7 million, is expected to be finished by 2025. It includes the Angsana Hotel and Banyan Tree Hotel, and also a 18-hole championship golf course and a clubhouse.
Phase 2 will cost €124,2 million and will include the development of Westin and Luxury Collection by Marriott; including a two 18-hole championship golf courses, outdoor recreation facilities, premium villas and residences, a mixed-use commercial center and a 10-hectare public park.
Also advancing is the Widus Hotel & Casino. The casino’s latest expansion project is expected to be completed by 2021; and offer a total of 200 gaming tables (67 as of today) as well as around 800 to 1000 slot machines.
In summary, Dae Sik Han, President and CEO of Widus, highlighted Clark’s fast development towards “becoming one of the top destinations in Northern Luzon for both tourists and investors.