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Philippines – Bloomberry granted loan to build Solaire Quezon City

The Philippines-based Bloomberry has had a ten year loan approved for $767m to pay for the build of its Solaire-branded casino resort in Quezon City.

Το δάνειο έχει χορηγηθεί σε δύο θυγατρικές του Bloomberry: Sureste Properties Inc. και Bloomberry Resorts and Hotels. Θα χρηματοδοτήσει τον «σχεδιασμό, την κατασκευή και την ανάπτυξη ενός ολοκληρωμένου ξενοδοχείου και θέρετρου τυχερών παιχνιδιών» στο Vertis North Complex στο Quezon City, στο Metro Manila.

Ο στόχος είναι να ξεκινήσει η κατασκευή φέτος και να ανοίξει το καζίνο το 2021 ή το 2022.

Bloomberry Chairman and CEO Enrique Razon said: “This is part of our strategy to capture the base mass segment in the north. It’s a smaller property so it will be high rise. The gaming space will probably be the same, but not the same layout.”

“We foresee that tourism will continue to play a significant role in the growth of Philippine integrated resorts. Growth will likewise be boosted by the rise in middle-class incomes and increasing connectivity across the region,” Mr. Razon added. “In Entertainment City, infrastructure and real estate projects are being constructed at a rapid rate, and this should drive increased foot traffic into Solaire.”