Okada to build hotels, casinos in Palawan and Davao
Encouraged by the country’s growth prospects, Tiger Resort Leisure and Entertainment Inc., of Japanese tycoon Kazuo Okada plans to boost its investments in the Philippines with plans to build new hotel/gaming facilities in Palawan and Davao.
The company has already spent $2.4 billion for the development of the first phase of Okada Manila formerly Manila Bay Resorts.
Set to open in November, it is the third largest integrated resort to open its doors in the Entertainment City in Paranaque. With its 44 hectare site, it boasts of an impressive Y-shared hotel that consists of two wings.
The Pearl and Coral wing, comprised of 15 floors each, will house a total of 993 deluxe rooms, ranging from spacious 60 sqm., deluxe suites to luxurious 1,400 sqm villas. Each room provides a view of Manila Bay or the resort’s dancing fountain.
Tiger Leisure expects its investment in the Pagcor Entertainment City to exceed $4 billion once all four phases of Okada Manila is completed.
Antonio Cojuangco, the Filipino partner of Okada, said the expansion was is in line with Tiger Resorts’ vision to develop other areas where people could go aside from Okada Manila.
Takahiro Usui, Tiger Resort COO, investment in Okada Manila could reach $4 billion once all phases of the project are completed.
Usui said phase 2 of the project would take another year or two.