Donald Trump eyeing investment in Philippines Subic Freeport
The Spanish Gate, Subic Freeport
SUBIC BAY, Philippines -- U.S. property tycoon Donald Trump is eyeing up a move to develop part of a new complex in the Philippine freeport of Subic Bay into a tourist center, a Trump company official said Wednesday. The flamboyant billionaire is looking at joining a South Korean company that is already building a major complex in Subic Bay, which is located north of Manila .
Donald Trump
Trump Organization executive vice-president Michael Cohen said he had met officials of the Heung-A Property Group to discuss the plan.
He said the two sides were working on “a definitive agreement” where the Trump group would be a key developer of the beachfront but added that no formal accord had been signed.
Heung-A Property owns Subic Neocove Corp., a venture that is developing a tourism complex. The company is planning an initial 250 million-dollar inveMstment to build hotels, golf courses, a casino and residential areas.