Quantcast
Latest Stories

MJC sets tourism project

P3.7B hotel, mall to be built in San Lazaro

By
,

MJC Investments Corp., the leisure and tourism arm of Manila Jockey Club, said it started a P3.7-billion tourism project in Manila after announcing plans to raise fresh capital. Both companies are listed on the Philippine Stock Exchange.

In a statement dated July 23, MJC Investments said it broke ground on the Winford Hotel, which will encompass an 18-story, luxury hotel with a six-story retail, entertainment and recreation podium.

The project is located at the  Lazaro Business and Tourism Park in Santa Cruz, Manila, a  vertical integrated urban township comprising luxury high-rise condominiums and Manila’s only dedicated, PEZA-zoned IT and business process outsourcing dedicated tower, the statement showed.

MJC Investments said the venue will “provide premium hotel, entertainment and meeting options in one of Metro Manila’s most affluent areas.”

“We are proud to be bringing to market a project that will service an affluent and highly desirable market that has long clamored for world-class accommodations, entertainment and recreation,” Alfonso Reyno, Jr., chair and CEO of MIC, said in the statement.

“It is an opportune time to be in the tourism and hospitality business in the Philippines,” he added.

The company announced earlier this month that it would raise added funds with the subscription of additional shares of MJC Investments by its Hong Kong-based “strategic investor,” represented by Cheah Teik Sing. The deal involved 875 million shares of MJC Investments.

“The fundamentals of the Philippine economy, and the rapid growth of your country’s tourism industry ensure demand for luxury hotel rooms and our partnership is well placed to capitalize upon these unique opportunities and build long-term value,” Cheah said in the same statement.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , MJC Investments , property , Real Estate , Tourism , Winford Hotel

  • ManilaMan

    That’s something to look forward to. Although im not sure if Winford is a foreign or local hotel brand. Whatever happened to the Mercure Hotel?



To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Bernice Lee arrested by NBI team
  • Group: Bataan cop killed to stop him from exposing colleagues linked to drug ring
  • Chemical Engineer licensure examination
  • Troubled history fuels Japan-China tension
  • Palace: Our concern is to ensure MRT runs smoothly
  • Sports

  • NLEX fights off Derulo Accelero to remain unbeaten
  • Mayweather diehard Bieber eats pride, poses with Pacquiao for photo op
  • Power Pinays rip Singapore to enter quarters in Asian volley tilt
  • PBA D-League: Waves edge skidding Superchargers
  • Ilad’s last-second basket lifts Gems over Bakers
  • Lifestyle

  • Miss America: Don’t suspend teen over prom invite
  • Transitions and resurrection in the performing arts
  • ‘Archaeology tour’ of Cebu’s heritage of faith
  • Historic Fort Bonifacio tunnel converted into a septic tank
  • ‘Imports’ from London, and play of the year
  • Entertainment

  • Arrest warrants out vs. Deniece Cornejo, Cedric Lee, et al over serious illegal detention
  • Lindsay Lohan says she had a miscarriage
  • Discovery network cancels Everest jump
  • ‘Captain America’ stays strong atop US box office
  • Easter musings
  • Business

  • Century Pacific Food sets IPO price at P13.75 per share
  • Oil prices down in quiet Asian trade
  • Asian shares mixed in holiday-thinned trade
  • BDO seen keen on bidding for Cocobank
  • Bataan freeport investment pledges up 1,302%
  • Technology

  • PH has slowest internet in Southeast Asia
  • Nintendo’s trailblazing Game Boy marks 25th anniversary
  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Opinion

  • Gigi’s home
  • Palace stonewalls on MRT inquiry
  • Couple of things too
  • There is plenty of water behind Wawa Dam
  • Triduum thoughts of a young boy
  • Global Nation

  • Balikatan could spoil peace talks, says militant group
  • DFA officers hold workshop on aiding human traffic victims
  • Canada in communication with PH on toxic wastes
  • Filipinos in Middle East urged not to panic amid MERS-CoV scare
  • Obama on mission to quiet Asia skeptics
  • Marketplace