Hong Kong-listed property developer, Landing International Development, said it plans to build an integrated leisure and entertainment resort in Paranaque City in the Philippines.
The company, which owns and operates the recently opened Jeju Shinhwa World IR in South Korea, said it has agreed to lease a 9.5-hectare parcel of land.
It is now seeking necessary approvals from Philippine authorities for the resort, which will include a Filipino culture theme park; an indoor waterpark; an indoor movie-based theme park; a convention centre; hotels; a retail mall and other commercial and entertainment facilities. It did not specifically mention whether it would apply for a casino license.
Paranaque City is adjacent to Metro Manila to the south.
“The Integrated Resort, if approved and completed, will add to the group’s portfolio of world-class integrated destination resorts with premium leisure and entertainment facilities which cater local and overseas visitors of all ages currently headlined by Jeju Shinhwa World in Jeju, South Korea,” the company said in a filing to the Hong Kong Stock Exchange.
It cautioned that the development is contingent on receiving the necessary approvals and permits.
In February, the Philippine Gaming and Amusement Corp. said it would not be issuing any further casino licenses following concerns expressed by President Rodrigo Duterte about the proliferation of such resorts.
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