“Bloomberry is finalizing land acquisition in Paniman, Ternate, Cavite, and drafting the masterplan for its planned resort project,” the company said in a stock exchange filing made to clarify news reports.
“Although the timeline is still undecided, the company aims to complete and open the development within the next five to 10 years,” it added.
On May 18, 2022, Bloomberry’s Solaire Properties Corp. agreed to purchase about 280 hectares of land in the Paniman area, Ternate, Cavite from several landowners, including Boulevard Holdings Inc., Puerto Azul Land Inc., Ternate Development Corp., and Monte Sol Development Corp.
The area, which is larger than the Bonifacio Global City district in Metro Manila, will be bought at an average price of P2,700 per square meter.
It plans to develop the Paniman property into an integrated resort and entertainment complex with a casino, hotel, golf course, commercial spaces, residential areas, and mixed-use developments.
