Justin Xiao,. Millennium Pan-Asia Hotel and Resort Inc. CEO, (left), seals the deal with Philippine Amusement Gaming Corp. (Pagcor) chairperson Andrea Domingo (center) for the firm to operate a casino resort in Mandaue City. At right is Millennium COO Alfredo Lim.
contributed photo
P15.3B MIXED-USE DEVELOPMENT PROJECT
A $300-million integrated resort and casino will soon rise in Mandaue City.
This developed after the Philippine Amusement and Gaming Corporation (Pagcor) has given the go signal to Millennium Pan-Asia Hotel and Resort, Inc. (MPA) to develop the integrated resort and casino in the city.
Lawyer Kristine delos Reyes, head of legal and corporate affairs at MPA, in a phone interview on Monday, said that they target to begin operations by the first quarter of 2018.
This “emerging contemporary lifestyle district at the center of the city” is targeted to open by the third quarter of 2020.
Delos Reyes said the company still cannot disclose the exact location or the size of the project in Mandaue City, but emphasized that it will be a “big” one.
The company official said they hope to finalize everything within this month.
Justin Xiao, MPA chief executive officer, said he is positive that the project will be “a world-class entertainment center and [the] most popular place in Cebu.”
In a statement, Xiao said that the venture would generate at least 4,000 jobs, boosting the tourism industry and economy of Cebu.
The project is estimated to cost $300 million or around P15.3 billion ($1:P51).
“Millennium will pioneer a landmark, mixed-use development in the heart of Mandaue City, one of the fastest growing urban developments in Cebu,” the company said.
MPA is a privately-held property investment holding company with business interests in the hospitality, entertainment, and technology industry.
“Millennium will pioneer a landmark, mixed-use development in the heart of Mandaue City, one of the fastest growing urban developments in Cebu,” the company said.
MPA is a privately-held property investment holding company with business interests in the hospitality, entertainment, and technology industry.
The company secured the provisional license for the Mandaue City project last August 9, signifying that the developer can now proceed with the undertaking as far as Pagcor is concerned.
The developer claimed that the project will be the first lifestyle resort to offer a “modern integrated entertainment hub, anchored by a world-class casino, and supported by a diverse array of contemporary entertainment facilities.”
Among these facilities are hotels, shopping areas, restaurants, cinemas, and theater that cater to the luxurious lifestyle of both domestic and international travelers, be it for business or leisure.
Philip Tan, past president of the Mandaue Chamber of Commerce and Industry (MCCI), welcomed this development.
However, he pointed out that the city should also be prepared to adjust to the demands for more infrastructure projects that will address problems on garbage, drainage, flooding, and traffic, among others.
“We can only swallow what development we can absorb based on our current capacity,” he said.