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)