Olongapo SubicBay BatangGapo Newscenter

Thursday, June 07, 2007

High rise starts construction in Subic

SUBIC BAY Freeport: A South Korean firm on Wednesday started construction of its $3.5 million, 574-unit condominium towers inside the Freeport, making it the first high-rise structure to be built here since the Americans left in 1992.

Hong Shik Kim, KT Global president, said the company aims to complete the first two condominium buildings within the next three to four years, with four more towers in the planning stage ready for completion by 2013.

KT Global, a unit of KT Construction Co. Ltd., will develop, manage and operate the project called Subic Ampelos Tower.

“KT Global Subic Inc. is the tenth biggest committed investment among the approved projects in 2006. It will be the first high-rise with 17 stories,” Subic Bay Metropolitan Authority (SBMA) administrator Armand Arreza said.

Based on KT Global projections the population in Subic will increase three-folds by 2010, as it will be attracting some 20,000 foreigners.

The Ampelos Tower project, Hong said, reflects the rapid advancements in technology and a growing need for quality housing, hotel rooms and other amenities in Subic.

There will be the usual amenities such as conference rooms that are ideal for formal and nonformal gatherings, recreation place with a spa, massage clinics, swimming pools and sports facilities and gift shops.

“Each floor will have 36 high quality, comfortable household units. The rest of the building, will be the apartel itself offering on each floor. Each unit will offer a fine balance of safety, cutting edge features, positive atmosphere and state-of-the-art living conditions,” Hong added.
--Anthony Bayarong - Manila Times

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