Solaire’s new project to start in 2024: Ricky Razon has yet to get 40% of Cavite land committed by Panlilios

Bloomberry Resorts (BLOOM), the gaming and leisure arm of ultra bilyonaryo Ricky Razon, is planning to launch its new resort community in Paniman, Cavite next year.

In a report to the Philippine Stock Exchange, BLOOM will begin construction of its golf and casino hub in Paniman Bay in Ternate, Cavite after completing its second casino hotel, Solaire North in Quezon City, which is expected to be finished by the first quarter of 2024.

BLOOM, through Solaire Properties, is currently rushing the delivery of land titles from the Panlilio family (Boulevard Holdings, Puerto Azul Land, Ternate Development and Monte Sol Development) to secure the land needed for the project.

As of the end of 2022, BLOOM has received a total of 16 lots covering 1.6 million square meters, which is only 58 percent of the 2.8 million sqm land (worth P2,700 per square meter or P7.6 billion) that the Panlilios committed to deliver when they signed an agreement with BLOOM in May 2022.

Solaire Properties plans to develop an integrated resort and entertainment complex with a world class casino, hotel, golf course, commercial, residential and mixed-use development.