MANILA, Philippines – DM Consunji Inc., the construction arm of DMCI Holdings, has secured contracts for office, residential and hotel-casino projects worth P9.34 billion.
In a disclosure to the Philippine Stock Exchange, the firm said it has been contracted to build the P8.59 billion Entertainment City project, the P625-million Makati Diamond Residences, and the P117-million One Network Bank Headquarters.
The Entertainment City project is owned by Sureste Properties Inc. in joint venture with Bloomberry Hotel and Resorts Inc. and will take about 22 months to complete. It is located at the Philippine Amusement and Gaming Corporation’s Bagong Nayong Pilipino Entertainment City in Parañaque.
It will be an 11-storey hotel with a three-level entertainment podium, and 10-level parking garage building. The project will have a covered floor area of about 180,000 square meters.
Makati Diamond Residences is owned by San Miguel Properties Inc. and will take 26 months to complete. It will be residential condominium with 28 floors and four basement levels in Legaspi Village, Makati.
The One Network Bank headquarters will be a five level banking building in Sasa, Davao City and will take 12 months to build.
Bloomberry recently announced the successful first concrete pouring for its Entertainment City Project, signaling the start of structural works by DMCI. It said the entire project will cost $1 billion.
Sureste chairman Enrique K. Razon Jr. said he has high hopes that the project will help boost tourism in the country by providing a world-class, state-of-the-art resort and entertainment facility.
The project uses mostly Filipino expertise from concept, design, and construction to project financing. It is expected to generate some 4,000 jobs once it starts operations by the third or fourth quarter of 2012.
The Entertainment City Project features an integrated resort facility including a five-star, 500-room hotel covering an area of 8.3 hectares. It will also feature a state-of-the-art meeting and convention and ballroom venues, restaurants as well as health and wellness facilities
http://www.mb.com.ph/articles/306028/dmci-bags-p934b-construction-projects-razon-smc |
