These hotels are the NUSTAR Hotel, which is opening in the coming weeks, and the Grand Summit, which will be completed by the end of 2026, the builder said in a stock exchange filing on Friday.
The resort will feature three hotels totaling 1,000 rooms, including the ultra-luxury NUSTAR Hotel, the Filipino-branded Fili, and the Grand Summit, which will cater to business events and conventions.
Fili, which is already open, offers 379 guest rooms, according to NUSTAR’s website.
Based on the filing, P951 million will be allocated over the next year for the nearly completed NUSTAR Hotel and the Grand Summit, which is currently 3 percent complete.
RLC allocates P5 billion for Taguig project
RLC made the filing to detail how it would reinvest proceeds from the sale of shares in its real estate investment trust unit, RL Commercial REIT.
Another major item is the planned spending of P5 billion for a property in Taguig City and nearly P2 billion for the redevelopment of Forum Robinsons, with the initial phase involving a shopping mall and an office tower.
RLC earlier unveiled plans to develop a 6.2-hectare property in partnership with the Bases Conversion and Development Authority (BCDA).
The project will be a mixed-use development with direct access to the Metro Manila Subway project.
It also plans to deploy P2 billion for an integrated development in Visayas or Mindanao, the filing showed.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
