Manuel Villar plans to build two casinos in the Villar City development.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0Manuel Villar Jr<\/strong>, the second richest person in the Philippines, according to Forbes, is advancing with plans for two new casinos at the planned mixed-use Villar City<\/strong> development in Metro Manila.<\/p>\n\n\n\n With an investment of approximately US$1bn<\/strong>, Villar envisions integrated casino resorts as central features of the urban development. The first casino is planned for the 18,000-square-meter Vista Mall Global South, along the C5 extension in Las Pi\u00f1as.\u00a0Villar has entered into a collaboration with a South Korean partner\u00a0who will oversee the casino operations. <\/p>\n\n\n\n The casinos will aim to attract both foreign high rollers and domestic players. Other plans include an amusement park, events, educational institutions, healthcare facilities and religious centres.<\/p>\n\n\n\n Villar City will span 3,500 hectares and 15 satellite cities, from Taguig to Tagaytay, each with its distinct purpose. There will be a central business district, a technology-focused area, a university hub and a lifestyle destination.<\/p>\n\n\n\n The children of Henry Sy, the tycoon who died in January 2019, continue to top the Forbes\u2019 Philippines\u2019 50 Richest list. Their wealth is primarily derived from stakes in SM Investments Corp and SM Prime Holdings, with shares in the former having risen 19 per cent due to the rebound in consumer spending.<\/p>\n\n\n\n Enrique Razon<\/strong> remains at number three on the list. His fortune rose US$2.5bn to US$8.1bn in the last year. Andrew Tan<\/strong>, the chairman of Alliance Global Inc, is ranked 11th on Forbes\u2019 list, down one place from 2022<\/a>. <\/p>\n\n\n\nCasino investors retain positions in Forbes Philippines\u2019 50 Richest list<\/h2>\n\n\n\n