Business tycoon Andrew Tan is embarking on greater heights for continued business venture as Alliance Global Group Inc. (AGI) subsidiaries Megaworld Corp. and Travellers International Hotel Group Inc. are in the works of developing its latest upscale township ‘Westside City’ in Paranaque.
In a joint statement, the Tan-owned firms are allocating P65B to begin operations on its new resort and casino project in the Philippines, which will cover 31-hectares of land in the Entertainment City. Completion is expected to be on the fourth quarter of 2020.
‘Westside City’, formerly known as the ‘Bayshore City Resorts World’ project, Megaworld will house posh amenities catering to entertainment and leisure including a worldclass gaming complex, a luxury mall, and residential condominiums.
Meanwhile, Travelers is bringing international luxury hotel brands such as The Genting Grand and Crockfords Tower of the Genting Group, Hotel Okura Manila of the Okura Hotels and Resorts, Kingsford Hotel, and The Westin Hotel of the Starwood Asia Pacific Hotels and Resorts Group, hailing from different parts of the world such as Malaysia, Japan, Singapore, and the United States respectively.
These hotels will have a total of around 1,500 premium units.
The new entertainment center is also being groomed in becoming a home to the Filipino performing arts. Following Megaworld’s Newport Performing Arts Theatre in Newport City is one of Westside’s underlined facilities — the country’s very first Grand Opera House.
“We are very excited to see Westside City rising to be a showcase of Manila as a truly world-class Philippine capital,” Tan said, stressing that part of the company’s vision is for Westside to become the “Broadway of Asia”.
Westside City is Megaworld’s 20th integrated urban township. Next to Resorts World, it is the property developer’s second flagship leisure and entertainment center in Manila.
Last September, AGI has set aside P65B to property conglomerate Megaworld from its P96.7B capital expenditures this year. The real estate firm currently holds 4,000 hectares in its portfolio, in which 80% have been dedicated to land developments such as high-end townships or mixed-use communities.