Hann Philippines Inc. has signed a P9-billion syndicated term loan agreement with Asia United Bank Corp.(AUB) and Union Bank of the Philippines to partially finance the ongoing construction and development of Hann Reserve, its master planned mixed-use integrated lifestyle resort development in New Clark City, Tarlac.
The 450-hectare project is now undergoing site preparation and general infrastructure development for its first phase, estimated to cost P17 billion. It will include the award-winning Banyan Tree luxury hotel and residences plus an 18-hole mountain golf course by Nicklaus Design–the first of three world-class courses and PGA-affiliated player development facilities that will form the highlight of the integrated resort.
Hann Reserve’s first phase will also include a clubhouse and ten-hectare public park along with other ancillary facilities. The earliest targeted completion for the initial components of the first phase is by 2025. – Irma Isip
