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Old September 24th, 2007, 08:39 AM   #1
diz
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MANILA | Pagcor Tower | 665m | 2181ft | App

[IMG]http://i33.************/olhlw.jpg[/IMG]

Diffirent versions:
image hosted on flickr


image hosted on flickr


image hosted on flickr


Malaysian Genting Group to the Philippines14-04-2008


QUEZON CITY - Alliance Global Group (AGI) is finalising plans to enter into a joint venture with Star Cruises Limited, an affiliate of the Malaysian conglomerate, the Genting Group, to develop a US$1.0 billion integrated leisure resort as part of the multi-billion dollar Bangong Nayong Pilipino Manila Nay Integrated City Project in the Manila Bay reclamation area....[/QUOTE]
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Old September 24th, 2007, 08:41 AM   #2
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sweet
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Old September 24th, 2007, 08:41 AM   #3
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LINKS??? INFO??
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Old September 24th, 2007, 08:44 AM   #4
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Exact same tower on a newspaper ad of the Bagong Nayong Pilipino E-City.
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Old September 24th, 2007, 08:47 AM   #5
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And that will be part of something bigger.

Pagcor’s 'Las Vegas' dream to cost $20B
State firm in talks with Greek, US gaming operator

By Daxim Lucas, Riza T. Olchondra
Inquirer
Last updated 04:00am (Mla time) 03/22/2007

MANILA, Philippines -- The government's Philippine Amusement and Gaming Corp. (Pagcor) has raised its project cost estimate for an ambitious gaming complex -- to be patterned after Las Vegas -- that will rise on reclaimed land along Manila Bay.

Speaking to reporters Wednesday, Pagcor chair and CEO Ephraim Genuino said that as much as $20 billion-- equivalent to 16 percent of the country’s total economic output in 2006 -- would be spent in putting up the “Entertainment City.”

This marks a 33-percent hike over the initial $15-billion cost that was announced when the project was unveiled in 2001. Under the original plan, the investments and project cost would be spread out over a 10-year period.

“The project is a shift [for Pagcor] from gaming into entertainment,” Genuino told reporters at the Asian Gaming and Entertainment Plus Leisure Expo Manila. “We will form a Las Vegas in the Philippines.”

The complex, also called Pagcor City, will be built in three phases on 800 hectares of reclaimed land. The first phase will host a hotel-resort and theme park. The next two phases will have retirement villages and entertainment centers.

Separately, however, Pagcor officials said that only “$10 billion to $15 billion” would be spent on the first phase of the project, which would cover between 45 to 65 hectares of the total proposed area.

Genuino said that only 25 percent of the total land area has so far been reclaimed, with the rest to be added as the project gets underway.

Genuino also expressed confidence that the Pagcor City project will not encounter opposition, even from the Catholic Church.

“For us to hurdle opposition to gaming, we will follow Las Vegas,” he said. “I think the Church will understand. We are the biggest income generator for the government, and I think the Church will be mature enough to understand.”

The gaming firm said that it made P25 billion in revenue from casino operations in 2006, almost 10 percent higher than the P23 billion profit it posted in 2005.

The head of the state gaming monopoly revealed that they are already in talks with Greek casino and resort operator Loutraki—a major player in the European gaming industry—for the development of Entertainment City’s first phase.

“We have also spoken with Caesar’s Palace and Genting,” he said, referring to the US- and Malaysia-based casino operators.

Genuino said 90 percent of the funds for the project will come from foreign investors. Other funders from Japan, Europe, the US and South Korea have also signified interest in financing the project.

Japanese investors, he said, are interested in developing a retirement village within the area for the expanding Japanese retiree market.

He added that Pagcor was working on the technical requirements of the project, with preparatory work scheduled to begin this year. Construction would be completed by 2009.

“The thrust now is not casino gaming but total entertainment,” Genuino said. “In the global arena, only 25 percent of the revenues of gaming destinations such as Las Vegas come from actual gambling.”

He said the Philippines stands to gain substantial tourism revenues by taking an active role in the global gaming industry. He noted that even a conservative country such as Singapore has opened its door to casinos as it realizes the benefits to be derived from the industry.

“With Pagcor City, we will quadruple our tourists to 10 million in five years,” he said. “We hope we can catch up with Singapore and Macau.”



Genuino also said foreign investments in the project will be finalized once Pagcor’s charter is amended to allow the state-owned company to enter into joint ventures with foreign investors.

source
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Old September 24th, 2007, 08:49 AM   #6
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This would be one of the earlier designs:

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Old September 24th, 2007, 09:47 AM   #7
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The Church should be mature enough to understand???? Understand what? To let a monster casino open up and do what it does best....RUIN more of society? Look at Las Vegas. The place is a social sewer. I'm with the church on this. Casinos make money for themselves and nothing else. Nevermind the hype they claim they help communities. They ruin more communities than they can help. You will have a richer society if you close down every casino on the planet.

I doubt you'll see this tower go up.
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Old September 24th, 2007, 09:52 AM   #8
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cool
the top part is quite odd imo
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Old September 24th, 2007, 09:56 AM   #9
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Please provide a source for the height.
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Old September 24th, 2007, 10:28 AM   #10
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Quote:
Originally Posted by beyond 1000 View Post
The Church should be mature enough to understand???? Understand what? To let a monster casino open up and do what it does best....RUIN more of society? Look at Las Vegas. The place is a social sewer. I'm with the church on this. Casinos make money for themselves and nothing else. Nevermind the hype they claim they help communities. They ruin more communities than they can help. You will have a richer society if you close down every casino on the planet.

I doubt you'll see this tower go up.
This "E-City" will focus more on entertainment side (as that's where most of the money is made) than on the gambling side. Of course, there will be casinos also, but there will be amusement parks, etc.

And you can't be more wrong on "casinos making money for themselves and nothing else" PAGCOR provides revenue for the Philippine government, which filters back to the people in terms of infrastructure, health, education, and other things. Pagcor also donates large amounts of the money they generate to the Church and to other good causes.

But thanks for your 2 cents.
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Old September 24th, 2007, 01:42 PM   #11
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Hope they change the design, great height though
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Old September 24th, 2007, 01:44 PM   #12
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noo wayy. How i wish that this would be built!! whoo. go Philippines!
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Old September 24th, 2007, 02:59 PM   #13
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this tower will put our mark back on the globe.
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Old September 24th, 2007, 05:29 PM   #14
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the design should be changed. nothing significant in terms of trying to make an identity. given the chance, they should make this one identifiable with the filipino people. not another tower just for the sake of height.
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Old September 24th, 2007, 05:40 PM   #15
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i dont understand what is wrong with the design
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Old September 24th, 2007, 06:05 PM   #16
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I think it looks little bit old and average
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Old September 24th, 2007, 06:15 PM   #17
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Yup, the design is just a (much) taller Space Needle. Compare this tower to the Sumida Tower and the Guangzhou TV Tower and its design seems very old and unremarkable. The only thing it will have over those two towers is the height by 45m, if the height of 655m is correct. Other than that, those towers have much more iconic designs. So I'm hoping that they will change the design.
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Old September 24th, 2007, 06:58 PM   #18
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cool project...the tower in the first pic looks gigantic tall at 655m
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Old September 24th, 2007, 08:13 PM   #19
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Nice looking tower. That definitely is definitely an icon and may help Philippines to prosper more. I wonder what's the budget for the tower alone?
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Old September 24th, 2007, 10:19 PM   #20
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i've no mention but i guess 200 million $ or more
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