Widus Philippines Inc. (WPI), the operator of the Widus Hotel and Casino Clark, has some extra money to play with in their expansion plans. The firm announced on May 25 that they had secured a PHP7 billion ($130 million) loan to construct their fourth tower, local outlet SunStar reports.
The loan came care of the Asia United Bank Corporiation (AUB) and Union Bank of the Philippines (UB). Mitchell Estacio, treasurer for WPI, laid out how they plan to use the money:
“This additional investment from our bank partners will be used to support our Tower Four project. Our loan agreement only reflects the company’s strong commitment to bring only the best world-class facilities here in Clark.”
The fourth tower would help complete the $1 billion Widus resort. That 19-story tower alone is set to have 20,000 square meters of floor area. In the press release put out when they broke ground on the project, they said it would have “modern architecture aesthetically complemented by nature and lush green landscapes.”