Remodeled Championship Golf Course Planned for Subic and New Courses on the Drawing Board

Subic Freeport Zone, Philippines, September 5, 2008 - Another weekend has arrived and you want to get away. You can’t make up your mind whether you want the fun, excitement and ocean air of Subic Bay or the wonderfully manicured golf courses of Clark Zone. Then you think, what will the family do while I play golf—well, in a number of years, the option that meets you and your family’s needs will be accomplished.

The name of the game here is fresh, manicured greens, lush new fairways and all the amenities you’d expect from a world-class course right in Subic. $48 million should do the trick for a course worthy of Tiger Woods, right? We believe so, that’s the amount being set-aside for a joint venture between a Filipino and a South Korean. These plans not only include a brand new championship course, but an additional nine holes, new driving range, a new hotel and villas.

Benjamin Defensor, president of Hanafil Golf & Tour Inc. is planning to turn the existing Subic Bay Golf Course into an all-weather championship course will all the extras. Mr. Defensor’s company was awarded the contract bid earlier this year from the Subic Bay Metropolitan Authority, the current operator of the Subic Bay Golf and Country Club(SBMA). Through a takeover from previous owners, due to mounting debt issues, SBMA reacquired this property.

Now for the caveat; the completion date will be about 6 years down the road. This long schedule caused by the existing members requesting the existing course remained open for the duration of construction. I’m sure you would feel the same way if you had vested rights in a club.

Adding to the Subic golf-haven development, providing for a need of additional facilities for the growing number of tourists and golf aficionados, are two additional projects scheduled for the next few years. Expect a 400-hectare resort with championship golf course located on the Redondo Peninsula and a Bataan project, just outside of the Freeport in the town of Morong, billed as a resort/golf course/convention facility.

So, if you are chomping at the bit and simply can’t wait six years for the completion of the new Subic golf facility, consider this option. Remember the new Clark/Subic Super Highway is fully functional and a dream to negotiate. You can legally travel at speeds up to 100 KPH making the jaunt a mere 40 minutes from Clark. Why not stay in the Clark Freeport, availing of the incredible, world-class courses there. You can either make the trip to Subic with the wife and kids in no time at all or set them free via public or private transportation services for all the exciting fun, water and adventure Subic is famous for.

Given the explosive growth of the Clark/Subic corridor as a leisure and resort super-zone, expect additional announcements in the near future. The Philippines and Southeast Asia in general are blessed with the fact that in spite of the touchy world economy, we have tremendous long-term economic development and growth on the immediate horizon.

 

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