Global-Estate Resorts Inc, the tourism estate
development unit of Alliance Global Group Inc, said it
would spend 10 billion pesos ($224 million) over the next 10
years to transform a 561-hectare property in southwestern Cavite
province, Manila Standard Today reported.
The new project dubbed Southwoods City would feature a
central business district, commercial and retail developments,
schools, leisure facilities, medical facilities and transport
hub, the report said. (link.reuters.com/muv27v)
NOTE: Reuters has not verified this story and does not vouch
for its accuracy.
($1 = 44.6000 Philippine pesos)
(Compiled by Manila newsroom; Editing by Anand Basu)