MANILA, Philippines - A unit of Consunji-led DMCI Holdings has won 3 contracts worth P9.37 billion mostly from the groups led by businessman Enrique Razon and conglomerate San Miguel Corporation.

In a disclosure to the stock exchange, the DMCI said its construction subsidiary, D.M. Consunji, Inc., was awarded 3 contracts to build a hotel, a residential service apartment and a bank office of a Davao-based rural bank.

Entertainment City project

A hefty P8.6 billion contract was awarded by Sureste Properties Inc. for the construction of a hotel and entertainment complex in the ambitious Entertainment City project in Paranaque.

According to a separate statement from Razon, Sureste is the property developer while its joint venture partner and subsidiary, Bloomberry Hotel and Resorts Inc is the hotel operator.

The P8.594 billion contract between the DMCI construction firm and Sureste involves a 22-month contract to construct

• an 11-storey hotel
• 2-level Enterterment Podium
• 10-level parking garage building

These will be located inside the 120-hectare Bagyong Nayong Pilipino, which is envisioned to become the country's biggest tourism development. The Bagong Nayong Pilipino-Entertainment City Manila is a multi-billion dollar project of PAGCOR, which covers 120 hectares of prime reclaimed land area at the southeastern portion of the Manila Bay in Parañaque City.

Construction was expected to begin by the third quarter of 2010. Once completed, the gaming complex will house two 5-star luxury hotel towers of over 1,000 rooms. It will be fully operational in 2 years.

Razon, who heads port operator International Container Terminal Services Inc. (ICTSI), bought into Bloombury Investment Holdings Inc., one of the 4 companies that have been granted provisional license to establish and operate a gaming complex in the Entertainment City.

He controls both Sureste and Bloomberry.

Makati service apartment

The DMCI unit was also awarded a P625 million contract by the San Miguel Group for the construction of a residential project in Makati City.

The 26-month project involves Makati Diamond Residences located in Legaspi Village in the country's main financial and business district. It will have 28 floors.

In 2008, San Miguel's real estate and leasing arm, San Miguel Properties, entered into a joint venture with pension fund Government Service Insurance System (GSIS) to develop a 1,766-square meter property in Legaspi Village, Makati into a service apartment. The parties have previously said they would put up a P1.7-billion high-end luxury hotel on the property that is expected to be operational by January 2011.
 
Davao bank

DMCI also bagged a P117 million 12-month contract for the construction of the headquarters of a Davao-based bank.
One Network Bank is a rural bank that was a product of the consolidation of 3 rural banks in the country.

According to its website, Victor A. Consunji chairs this rural bank.

http://www.abs-cbnnews.com/business/02/22/11/dmci-wins-p93-b-contracts-razon-firm-san-miguel-etc