Shangri-La group plans 6-star hotel in Taguig

The Philippines' Bases Conversion and Development Authority on Thursday announced that the Hong Kong based Shangri-La Hotels and Resorts group has made known its interest in building a six-star luxury hotel inside Fort Bonifacio in Taguig City. BCDA President and CEO Narciso Abaya said the site of Shangri-La for the project is the 1.2-hectare lot owned by the government beside the City Center of the Bonifacio Global City. The lot, formerly known as the Government Center for Investment, is also the area being eyed by the real-estate and entertainment tycoon Donald Trump for a planned integrated complex project. Abaya said Shangri-La Hotels and Resorts Vice President Greg Dogan revealed its plan to build a six-star hotel in the area during a preliminary presentation made by the company before the BCDA Board on May 15. BCDA Chairman Aloysius Santos, however, clarified that despite the presentation, no commitment has been made by both parties. “No decision has been made. The BCDA Board is mapping out an action plan for a transparent competitive selection process among the interested proponents," Santos said. Santos said Shangri-La Group's plan is a welcome development in the overall development of the Bonifacio Global City. Abaya said the signified interest of both Shangri-la and Trump groups for the 1.2 hectare lot at the Bonifacio Global City manifests sustained solid investor confidence in the developments in the area. The Bonifacio Global City is located only a few minutes away from the Makati and Ortigas Central Business Districts, the Ninoy Aquino International Airport and major thoroughfares like C-5. The Global City also has world-class infrastructure including an underground drainage detention structure with the capacity to hold 22 million liters of water and release it under controlled conditions to prevent floods. It also has a fiber optic cabling network to support a wide range of telephone, video and data applications. The Shimao Group of China is also eyeing a 7-hectare property inside Fort Bonifacio for its hotel-residential-retail complex. - GMANews.TV