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Korean Invested in Morong-Subic Resort |
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Written by Cherry
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Thursday, 22 July 2010 |
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A new investor from Korean property developer M Castle Philippines Ltd. gave $1-billion boost up to the Foreign Direct Investments at the Subic Bay Freeport for the 615-hectare property in Morong, Bataan which will be called Resom Resort City, Subic. Last January, the Korean firm guarantee a $350,000 investment which resulted to the registration of its business at the Freeport.Last May of this year, the company also set an additional pledge which sum to $1 billion. According to SBMA the total FDIs in the first semester raised to over $1.1 billion based from the preliminary figure of $114.58 million. The resort will offer beach condo units, villas, a five star casino hotel, a marina club, a 36-hole golf course, water park, convention facility, medical center, shopping mall, and an English-language learning center. [via globalnation.inquirer.net] |
