THERE is another addition to the fast-modernizing landscape of the 400-plus-year-old Chinatown in downtown Sta. Cruz, Manila, reputed to be the world’s oldest Chinatown.
MJC Investments Corporation (MJIC), a listed holding firm majority-owned by Manila Jockey Club, recently opened Winford Hotel and Casino, a luxury entertainment and business complex in the area.
In a disclosure to the Philippine Stock Exchange, MJIC said Winford Hotel is currently the only luxury hotel, entertainment, and tourism hub in the Greater Chinatown area.
The gaming and entertainment complex has secured duty-free and tax privileges from the Philippine Export Processing Zone Authority.
MJIC said the hotel offers five-star international accommodations within its 7,500-square-meter, 22-story high-rise development.
The property has 128 deluxe hotel rooms, an expansive podium that houses high-end restaurants, a grand ballroom that can accommodate 1,000 guests, over 900 parking slots, and more than 9,000 square meters of internationally designed indoor entertainment space.
The development marks the first-ever construction of a five-star hotel and high-end entertainment project in the heart of Manila’s Chinatown, the company said.
“The hotel offers luxury accommodations, meeting and event facilities, and entertainment concepts to serve the expanding Chinese and Filipino-Chinese communities in central Mega-Manila,” the company’s disclosure stated.
MJIC was incorporated in July 1955 as Palawan Consolidated Mining Company to engage in the mining business.
The company eventually stopped its mining operations and changed its primary purpose to that of an investment holding firm in February 1997.
The company had acquired about 52,000 square meters of land in Tanza, Cavite and entered into a joint venture deal with property firm Sta. Lucia Realty and Development Inc. to develop the property into a residential, commercial and golf course complex known as Saddle and Clubs.
Despite having been partially developed, the property has not registered any sale and MJIC said it has not booked any earnings from the project to date.