Hann Philippines Inc, the parent company of Hann Casino Resort in the Clark Freeport Zone, says it has secured a Php9 billion (US$166 million) syndicated term loan agreement for the development of its luxury golf resort project, Hann Reserve.
According to details posted across social media over the weekend, the loan has been provided by Asia United Bank and Union Bank of the Philippines.
Hann Reserve is being developed on a 450-hectare site in New Clark City, Tarlac, and when complete will feature PGA-affiliated player development facilities alongside three 18-hole championship golf courses, an array of luxury hotels and resorts plus clubhouses, a mixed-use commercial center, premium villas and residences, and a 10-hectare public park.
The three golf courses to be built will include a mountain course designed by Nicklaus Design, a valley course by South Korean professional golfer KJ Choi, and a Sir Nick Faldo Signature river course designed by the six-time major winner himself.
Hann previously said the development will provide a “synergy of luxury and play in Pampanga through its world-class integrated resorts, Hann Reserve and Hann Casino Resort, by creating pleasurable and globally competitive lifestyle experiences in the Philippines.”
Hann Development Corp officially broke ground on Hann Reserve in November.
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