Olongapo SubicBay BatangGapo Newscenter

Monday, June 23, 2008

New Subic golf course rising

Subic Neocove, a local company backed by Daewoo Securities of Korea, is investing $250 million for the first phase of a 440-hectare golf-resort development in Subic Bay’s Kawag area.

Armand Arreza, administrator of the Subic Bay Metropolitan Authority, told reporters last week that Subic Neocove acquired 440 hectares from several local landowners for a multi-million dollar resort development that includes a 54-hole golf course.

“The company is spending around $250 million for the first phase of the project, which includes the development of the golf course and the resort,” said Arreza.

The golf course alone would cover around 70 hectares. Other components of the project are the construction of villas and condominium buildings.

The Zambales provincial government and the municipality of Subic have given the Freeport the authority to administer the incentives since the project is located outside of the former US base area.

The project is five kilometers away from the shipbuilding complex of Hanjin Heavy Industries Corp. and is adjacent to the 240-hectare Club Morocco Beach Resort and Residential Estates of Sta. Lucia Realty and Development Inc.

Arreza said two more projects in the pipeline would make Subic and the underlying towns a destination for beach resort and golf developments.

The Freeport authority will also bid out this year the rights to develop into a resort project in its 200-hectare property in Sabang, Morong, Bataan.

He added that at least four proponents from the Philippines, Korea, Hong Kong and Dubai had expressed keen interest to develop the property, which includes an additional 20-hectare privately-owned beachfront property.

“We are now looking for proponents for resort development. The property would be for lease. We already have a masterplan for the project but no estimates as to investment cost yet,” said Arreza.

The property is in the same area as the high-end Anvaya Cove development of Ayala Land.

“We have set the bidding for the Sabang property within the year. We just need to resolve the issue on the 400 informal settlers, who have to be relocated,” said Arreza.

Tourists and locators can expect a bigger and better golf course within Subic Bay.

Hanafil, a unit of Korea’s largest tour operator Hanatour Service Inc., bested five other bidders for the lease, operation and maintenance of the Subic Golf Course in a bidding in March. The contract was awarded June 7.

Arreza said Hanafil is spending some $50 million to re-develop the 105-hectare Subic Golf Course over six years starting early this month.

Hanafil plans to develop the golf course into an all-weather one compliant to the standards of the US Professional Golfers’ Association. It will also develop additional holes to convert the existing course into a 27-hole golf course. Manila Standard Today

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