P500-m Korean condotel to rise in Subic Freeport
By Elaine Ruzul S. Ramos
A Korean developer has started construction of a P495-million condominium-type hotel inside the Subic Bay Freeport.
MGfnd Subic Inc. recently broke ground on the hotel project for opening in November next year.
“We are happy to finally start this project. Our decision of setting it up in the Subic Freeport was based on an extensive research in the Korean and Philippine tourism market,” MGfnd Subic chairman Chang Young Ryu said.
“This is an excellent place to visit and there is also a strong Korean business community that helped us establish our presence here.”
Chang said the Philippines was one of the most visited countries by Korean tourists. He said the idea of having a hotel in the Subic Freeport that would cater to the market complemented the presence of other tourist spots present in the area.
“MG Dream Village will cater to the growing Korean tour junkets that visit the Philippines, particularly the Subic Freeport. During their stay, they can visit the other attractions here like the beaches, theme parks and the entertainment centers,” Chang said.
He said his group was also focused on attracting tour groups from the United States, Japan and other foreign tourists.
Subic Bay Metropolitan Authority chairman Feliciano Salonga lauded the new project as a sign of continued confidence between Korea and the Philippines, saying the arrival of new investments were a significant boost to the economy.
“We welcome MGfnd Subic Inc. to the Freeport. Their arrival marks the strong bond forged between the two nations showing the continued confidence of Korean investors in the Philippines, particularly the Subic Freeport,” he said.
A Korean developer has started construction of a P495-million condominium-type hotel inside the Subic Bay Freeport.
MGfnd Subic Inc. recently broke ground on the hotel project for opening in November next year.
“We are happy to finally start this project. Our decision of setting it up in the Subic Freeport was based on an extensive research in the Korean and Philippine tourism market,” MGfnd Subic chairman Chang Young Ryu said.
“This is an excellent place to visit and there is also a strong Korean business community that helped us establish our presence here.”
Chang said the Philippines was one of the most visited countries by Korean tourists. He said the idea of having a hotel in the Subic Freeport that would cater to the market complemented the presence of other tourist spots present in the area.
“MG Dream Village will cater to the growing Korean tour junkets that visit the Philippines, particularly the Subic Freeport. During their stay, they can visit the other attractions here like the beaches, theme parks and the entertainment centers,” Chang said.
He said his group was also focused on attracting tour groups from the United States, Japan and other foreign tourists.
Subic Bay Metropolitan Authority chairman Feliciano Salonga lauded the new project as a sign of continued confidence between Korea and the Philippines, saying the arrival of new investments were a significant boost to the economy.
“We welcome MGfnd Subic Inc. to the Freeport. Their arrival marks the strong bond forged between the two nations showing the continued confidence of Korean investors in the Philippines, particularly the Subic Freeport,” he said.
posted by OlongapoCity Zambales at
3:36 AM
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