Clark Subic News Section
Posted 11-05-08 – Subic Bay Freeport Zone, November 5, 2008 – Enter Donald Trump to the stage of the Subic Bay investors club. Yes, the billionaire real estate giant from the U.S. is interested in building a $1 billion high-end resort/leisure development in the Subic Bay area. If plans prevail, the project will be called Neocove, and will eventually be the largest high-end master-planned community in all of Asia when completed.
With multi-nationalists focusing on the Subic Bay area in the midst of a worldwide economic crisis, Clark Subic Marketing believes this confidence in the area shows the potential for Subic Bay for continued and tremendous economic growth. This is a huge boost for Subic and for the Philippines in general and should be viewed as a path toward prosperity.
The team of real estate developers is actually a consortium of players made-up of Korean Heung-A Property Group, American Westgate Resorts Asia Ltd, the largest privately owned time share company in the world, operating 28 resorts in 11 US states, and the Trump Organization of Manhattan, the main oversight company of Donald Trump. This group of companies is actually looking into many other investment opportunities throughout Asia; the Subic project is only one of theses master-planned developments the group will be eyeing in the near future.
The property this group is looking at is actually just outside of the Subic Feeport in the area of Cawag, on a 457-hectare beachfront location. The plans at this point are for hotels, casinos, residential units, a convention center, retail shops, and even educational and medical facilities.
Of course the project will be constructed in phases, with building starting as soon as the first quarter of 2009, and a complete build-out in 10 years. The first phase will include the main road, drainage and utility-infrastructure, lakes, parks, bike paths, jogging trails, and to top it off, a 54-hole golf course, all due for completion in 2011.
This project, a definite high-end facility, has the potential to completely transform the Subic Bay Freeport. It’s anticipated to cater-to high-dollar long-term residents, tourist and businessmen from Europe and the U.S.
One of the differences this project offers is the fact that the focus will be on building a master-planned community to attract mainly long-term residents. With the inclusion of world-class medical facilities and international schools, the developers will focus on promoting the project to those markets in other countries that come to expect these type of amenities.
So, all of us in the Subic-Clark corridor should be keenly anticipating this first-of-its-kind project. With this undertaking, we look for a chance to move the Philippines into the realm of a more modern and complete country.