INQUIRER PHOTO/RAFFY LERMA
Tycoon Enrique Razon Jr.-led Bloomberry Resorts Corp. has won the bidding for the 16-hectare lot where integrated gaming resort Solaire stands on for P37.33 billion, securing its site within Pagcor Entertainment City along Manila Bay.
Bloomberry’s wholly-owned unit Sureste Properties Inc. (SPI) officially received a notice of award from the Philippine Amusement and Gaming Corporation (PAGCOR) after the latest public bidding.
Based on a disclosure to the Philippine Stock Exchange on Friday, SPI was the sole offeror for the property in a negotiated sale after two failed biddings.
The purchase price was P100 million above the floor price set by PAGCOR for the property.
SPI expects to complete the transaction, sign the deed of absolute sale and pay the balance of the purchase price within 45 days.