M Castle resort to rise in Subic
Korean property developer M Castle has signed a contract with the Subic Bay Metropolitan Authority (SBMA) to develop a US$1-billion resort complex on a 615-hectare beach front property between the free port and Morong town.
M Castle chairman Sang Soo Shin said the project is expected to change the landscape of Subic and adjacent areas in Morong, Bataan province. M Castle is reportedly known for eco-friendly tourism-related projects after the successful opening of several world-class island resorts and health spas in different scenic locations in Korea.
The Subic project includes the development of beach and forest condominiums, villas, a five-star hotel with 2,400 rooms, a 36-hole golf course, marina club, medical centre for oriental and western medicine, water park, shopping mall and an English-language learning house.