US Firm Eyes $2.5-Billion Entertainment City In Clark
Jermaine Jackson, brother of the late American singer Michael Jackson, said in a letter that their company intends to lease 76.499 hectares of the Clark Freeport Zone for the project, with an initial investment of $2.5 billion.
A US-based company is eyeing to build a $2.5-billion entertainment city within the Clark Freeport Zone (CFZ) in Pampanga, an official of the Clark Development Corp. (CDC) said on Monday, Sept. 19.
Dennis Legaspi, CDC’s vice president for engineering and chief of staff, said the Jackson Family Development has expressed its intent to build a five-star hotel and casino, mall and an entertainment venue as part of its proposed “Jackson City” development, seen to create thousands of local jobs.
In a letter to CDC president and chief executive officer Agnes Devenadera dated Sept. 14, Jermaine Jackson, brother of the late American singer Michael Jackson, said the company intends to lease 76.499 hectares of the Clark Freeport Zone for the project, with an initial investment of $2.5 billion.
“We intend to bring several high-end fashion retail stores to our mall, like the ones you see in Caesars Palace Mall and the Venetian Hotel in Las Vegas,” Jackson said in his letter to Devenadera, a copy of which was obtained by The Philippine STAR.
“Our vision is to have the premier hotel in the premier destination in the Philippines,” Jackson said.
Jackson noted the project would provide approximately 8,400 jobs. The corporation has been in the entertainment industry for over 40 years, he said.
“Entertainment is our specialty and we have access to some of the top entertainers in the world. We have had partners in the hospitality industry with over 30 hotels worldwide,” Jackson told Devenadera.
He said the company aims to expand its business and “drive more tourists to the Philippines and Asia.”
“We wish to bring world-class entertainment to Clark Freeport Zone for the same objective,” Jackson said.
Legaspi said the company is looking at a 50,000-capacity events place within the Jackson City.
He said they also want to train Filipino workers and talents and venture into other projects, including agriculture, one of the Marcos administration’s top priorities.
“The other projects they want have to do with agricultural productivity,” Legaspi told The STAR.
Legaspi said the CDC is currently in talks with Jermaine and brother Randy Jackson, Kasey Caldwell of Hard Rock International and businessmen Tony Brown and Allen Wu.
“We expect them to come around the last week of September or first week of October,” he said.
