Bloomberry Resorts Corporation, owned by billionaire Enrique Razon, is expanding its casino empire by acquiring a large portion of the coastal area of Ternate, which it plans to develop into an integrated leisure complex.
Bloomberry’s newly formed subsidiary, Solaire Entertainment Property Holdings, Inc. (SEPHI), made the purchase through an arrangement with a consortium of landowners that included Boulevard Holdings, Inc., Puerto Azul Land, Inc., Ternate Development Corp., and Monte Sol Development Corp.
They invested P7.55 billion for the 2,797,768 square meters of land in the Paniman zone.
In the said area, along with the beachfront Puerto Azul Golf & Country Club, the development will comprise a world-class casino, hotel, golf course, and commercial, residential, and mixed-use development.
The firm anticipates that the project will begin after the Solaire North in Vertis, Quezon City is operational.
Thumbnail photo by Michał Parzuchowski on Unsplash
