Resort developer secures P9-B loan from AUB, UnionBank
MANILA – Hann Philippines Inc., the developer of Swissotel and Marriott hotels in Clark, Pampanga, sealed a P9-billion loan deal with the Ng family’s Asia United Bank and Aboitiz-led Union Bank of the Philippines to finance a 450-hectare master-planned resort development in New Clark City, Tarlac.
Hann Philippines said the project, known as Hann Reserve, is now undergoing site preparation and general infrastructure development for its first phase, which will cost P17 billion.
“We are grateful to our partner banks and financial institutions for the trust and confidence in our vision to develop a truly world-class integrated resort that will solidify the reputation of Clark as an important leisure and lifestyle destination not just in the country but in the region,” Dae Sik Han, chair and CEO of Hann Philippines, said in a statement.
The project will include Banyan Tree luxury hotel and residences and an 18-hole mountain golf course by Nicklaus Design, founded by sports legend Jack Nicklaus.
“It is a privilege for us to be a part of Hann’s immense growth since its early beginnings,” said Kristeen Ella M. Reyes, AUB senior vice president and head of investment banking group.
“Likewise, we look forward to our continued partnership with this loan and to the company’s unabated success as it expands its business and operations,” she added.
Hann Reserve’s first phase will also include a clubhouse and ten-hectare public park along with other ancillary facilities.
“We look back at how Hann Philippines has progressed through the years and it is quite exceptional,” said UnionBank executive vice president Antonino S. Fajardo.
“We are proud to have been part of that growth story of what was once the modest Widus Hotel. Today, the rebranded Hann Resorts and the soon to be Hann Reserve are poised to forever change not just the physical landscape of Clark and the north, but also to positively impact their economies,” he added.
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