MANILA - Bloomberry Resorts Corp on Thursday said its new subsidiary Solaire Entertainment Property Holdings Inc signed a deal with landowners to purchase properties in Paniman, Ternate, Cavite which it intends to develop into an integrated resort.

SEPHI entered into an agreement with Boulevard Holdings Inc, Puerto Azul Land Inc, Ternate Development Corp and Monte Sol Development Corp for the purchase of over 2.7 million square meters of land in Paniman, the Enrique Razon-led firm told the stock exchange.

Average price per sqm was set at P2,700, Bloomberry said.

"SEPHI intends to develop the Paniman property into an integrated resort and entertainment complex with a world class casino, hotel, golf course, commercial, residential and mixed use development," Bloomberry said.

The company said it expects the project to commence once the Solaire North in Vertis, Quezon City is operational.

Bloomberry earlier said it would invest in Clark and Cebu developments of Dennis Uy's PH Resorts Group.

• Razon's Bloomberry to invest in Dennis Uy's PH Resorts group projects
• Razon's Bloomberry reverses loss with P679 million net income in Q1

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