SUBIC BAY FREEPORT — Former Taiwan Vice President Annette Lu visited last week the site of a $20-million leisure project in the Subic Bay Freeport that would include the redevelopment of the Triboa Clubhouse and the construction and management of condominium buildings and luxury villas in the Triboa Area here.
On hand to welcome Lu was Subic Bay Metropolitan Authority (SBMA) Chairman and Administrator Roberto Garcia.
“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, referring to the 21 percent growth in the number of hotel rooms in the freeport since June last year.
Upon completion, the investment project will feature three 10-storey buildings, consisting of a 40-room hotel, a 20-unit VIP condo with a car elevator, and a regular condo with 90 units. Also included in the project is the construction and development of five luxury seaside villas with a marina facility.
According to Garcia, the redevelopment of the Triboa Clubhouse, which was 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,” he noted.
The project, which was approved by the SBMA board in November last year, would be undertaken by the MSK Group through its affiliate companies, Xantheng (Subic) international Corp., Weihsin Subic Bay Corp., and Zangyueh Development Corp.
