Landing International Development Limited, which owns and operates Korea’s Jeju Shinhwa World, has announced the leasing of 9.5 hectares of land in the Philippines’ Parañaque City which it says will be used to develop a new integrated resort.
In a filing to the Hong Kong Stock Exchange, Landing said the IR would include a Filipino culture theme park, an indoor waterpark, an indoor movie-based theme park, a convention center, hotels, a retail mall and other commercial and entertainment facilities.
There is no specific mention of a casino but the company described the proposed facility as an “integrated leisure and entertainment resort” that would cater to visitors of all ages. Landing said it would now seek to obtain the necessary approvals.
Landing International Development’s Chairman and Executive Director, Dr Yang Zhihui, originally met with Philippines President Rodrigo Duterte and his cabinet in May 2017 and again in September to discuss the proposal.
“Following our first meeting with the President in May 2017 in Hong Kong to discuss investment opportunities in the Philippines, we are honored to share with President Duterte and his cabinet team our vision for tourism in the country and our proposal to build an iconic international branded theme park integrated resort in the Philippines that all Filipinos will be proud of,” Dr Yang said following the September meeting.
“This resort will comprise Asia’s first movie-themed indoor theme park, waterpark as well as many other leisure and entertainment facilities suited for all ages and families. When opened, the branded theme park integrated resort will enhance Philippines’ tourism appeal, complement the existing tourists’ attractions and resorts as well as create significant employment opportunities for the locals as well as returning Filipinos who are currently working overseas.”
