In the Philippines, President Rodrigo Duterte (pictured) has reportedly ordered a review into the deal that gave Chinese real estate firm,?Landing International Development Limited, a 25-year lease on just over 23.6 acres of land near Manila for the purpose of building its NayonLanding integrated casino resort.
Review follows wholesale firings:
According to a report from GGRAsia, the examination was announced yesterday after the controversial politician had earlier fired the entire board of the state-controlled Nayong Pilipino Foundation, which was responsible for signing the lease agreement with Hong Kong-listed Landing International Development Limited.
In publicizing the review, Presidential spokesperson, Harry Roque, reportedly declared that 73-year-old Duterte believed that the deal signed with the operator’s Landing Resorts Philippines Development Corporation subsidiary was ‘flawed’ because it had been inked ‘without public bidding’ and ‘was disadvantageous to the government.’
Operator perseveres:
For its part, Landing International Development Limited earlier declared that the sacking of the entire board of the land-owning Nayong Pilipino Foundation would not negatively impact its plan to spend $1.5 billion on bringing its NayonLanding development to life by as early as 2022…
In fact, it was so sure that the enterprise for the Philippines’ 1,976-acre Entertainment City district remained on course yesterday that it went ahead with a pre-arranged ground-breaking ceremony.
A statement from Landing International Development Limited reportedly read…
“From the group’s view point, the recent decision of the Philippine government to replace members of the Nayong Pilipino Foundation board of trustees did not affect the validity of the subject contract of lease.”
Lease deal is ‘above board’:
Last month saw the Philippine Amusement and Gaming Corporation regulator grant a 15-year gaming license to Landing International Development Limited for the NayonLanding development while Patricia Ocampo, the former head of the Nayong Pilipino Foundation, used a Tuesday statement to deny any wrongdoing.
Ocampo’s statement reportedly read…
“The lease contract with Landing International Development Limited is above board and is highly advantageous to the government and to the Filipino people.”
Extensive development planned:
Already responsible for the giant,?Jeju Shinhwa World integrated casino resort in South Korea, Landing International Development Limited earlier proclaimed that its plan for NayonLanding is due to see the development feature a trio of theme parks and a convention center alongside a plethora of dining and retail options, luxury hotels and ‘other commercial and entertainment facilities.’
It moreover detailed that these are set to be complemented by a 301,400 sq ft casino offering a collection of slots and electronic gaming machines as well as games of poker, blackjack, baccarat, roulette and craps.
Further bid complications may follow:
GGRAsia reported that the Entertainment City district lies just south of Manila and is already home to the Solaire Resort and Casino, City of Dreams Manila and Okada Manila developments. It explained that these are due to be joined as soon as 2021 by the Resorts World Westside City property from a subordinate of Travellers International Hotel Group Incorporated, which purportedly inked a similar 25-year lease deal with the Nayong Pilipino Foundation in August of 2014 without first engaging in a public bid.