(COMMITMENT. CDC president-CEO Noel F. Manankil signs the consolidated lease agreement with Widus International Leisure Inc. president Daesik Han to invest an additional P15 billion in the next three years. At the signing are CDC VP for business enhancement and business development group Evangeline Tejada, Widus AVP for corporate planning and compliance Agnes Liwanag, CDC chair Jose “Ping” De Jesus and CDC directors Ana Liza Peralta and Nestor Villaroman, Jr. Photo Courtesy of CDC-CD)
CLARK FREEPORT— A Korean firm is set to pour additional P15 billion investments in their leisure and resort complex project in the next three years inside this Freeport zone.
The additional investment was announced during the signing of the consolidated lease agreement between Clark Development Corporation (CDC) President and CEO Noel F. Manankil and Widus International Leisure Inc. (WILI) President Daesik Han.
In an interview, WILI Assistant Vice President for Corporate Planning and Compliance Agnes ‘Neki’ Liwanag said their firm has committed to pour the additional investment to develop a new property that will complement their existing facilities here.
“This property that we got (which is around three hectares) is to supplement our current property thus giving WILI a total of around 11 hectares of property to develop. For us to acquire the lease for this property, we committed to be able to have invested a total of P15 billion ($300 million) by 2022,” Liwanag mentioned.
Part of the P15 billion committed investment by year 2022 are the on- going construction of their Tower 4 which composed of 380 rooms, the expansion of their casino and the establishment of a retail area here.
Once the project is completed, Liwanag said that this will fulfill their vision of making Widus “the first fully-integrated resort outside Metro Manila.”
WILI has already invested around $200 million which includes the Widus Tower 1 and 2, the existing casino and the Clark Marriott Hotel. Accordingly, around $300 million or P15 billion investment will be added once their Tower 4 is completed.
“We intend to bring in more branded hotels in Clark to ensure that Widus provides nothing but the best in the industry,” Liwanag added.