EKR to buy 16-hectare Solaire lot for P37B
Bloomberry Resorts Corp. is acquiring from the Philippine Amusement and Gaming Corp. (Pagcor) the land where its Solaire Resort & Casino stands.
Under the negotiated sale, the property will be acquired for about P37 billion.
This follows the two failed biddings held by Pagcor for the land.
Pagcor can enter into a negotiated sale in the event of a failed public bidding.
During those two biddings, only Bloomberry subsidiary Sureste Properties Inc., the lessee of land, submitted an offer.
The floor price for the 16-hectare property was set at P37.23 billion or about P233,000 per square meter.