Bloomberry Resorts on Monday has clarified that the first phase of its $308-million cruise port in Paranaque City is still in the process of securing regulatory approvals.
Last week, local media reported Bloomberry chairman and CEO Enrique Razon saying that the cruise port would begin construction in the third quarter of this year.
However, Bloomberry clarified that it will need the approvals before construction can begin, and that completion of the resort will be 18 to 24 months from the start of construction.
The same report also noted that Bloomberry was hoping to break ground on its Soliare North project later in the year.
In its clarification filing, Bloomberry said it is working on the cost plan for the project, with planned completion of the cost plan by the end of April to mid-May 2019.
It also clarified that at this time, the groundbreaking and construction of Solaire North are subject to the securing of relevant permits before any construction can begin.