AFP - Wednesday, November 5
SUBIC BAY, Philippines (AFP) - - US property tycoon Donald Trump is eyeing up a move to develop part of a new complex in the Philippine freeport of Subic Bay into a tourist centre, a Trump company official said Wednesday.
The flamboyant billionaire is looking at joining a South Korean company that is already building a major complex in Subic Bay, which is located north of Manila.
Trump Organization executive vice-president Michael Cohen said he had met officials of the Heung-A Property Group to discuss the plan.
He said the two sides were working on "a definitive agreement" where the Trump group would be a key developer of the beachfront but added that no formal accord had been signed.
Heung-A Property owns Subic Neocove Corp., a venture that is developing a tourism complex. The company is planning an initial 250 million-dollar investment to build hotels, golf courses, a casino and residential areas.
http://ph.news.yahoo.com/afp/20081105/tbs-philippines-us-skorea-property-touri-059e858.html
Wow, more good news for the Philippines! Billionaire Donald Trump investing in our country must mean something. Surely, a tycoon and a finance expert such as him would not waste money on something that will not produce profit. This could be a good indicator of a promising economic welfare in our country.
If this project of Mr. Trump and Heung-A Property Group will push through, then it means more job employment for Filipinos and more income for many families. I hope that this will indeed push through and that more foreign investments will come our way in order to help answer the problem of job employment in our country as well as to promote our tourism industry.
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