GENERAL SANTOS CITY — How about a “Pacman” hotel?
World boxing superstar Manny “Pacman” Pacquiao is seriously pursuing a career as an investor, revealing late Tuesday night, after playing basketball, his plan to build a P500 million hotel here.
Pacquiao’s bid to build a classy hotel comes on top of a recent announcement that he too will develop a multi-million dollar integrated special economic zone also in this city, a locality home to many who’ve made millions from the tuna industry.
“The hotel will be constructed near the heart of the city. The blueprint of the project is already underway,” he said in a phone interview.
From a poor family, Pacquiao rose to fame after beating several famous fighters in different weight classes, including Oscar “The Golden Boy” dela Hoya.
His latest conquest was Englishman Ricky Hatton, who was knocked out in the second round via a powerful left hand to the chin.
Pacquiao lives in a multi-million peso mansion in this city, the “Tuna Capital of the Philippines.”
Among the earlier investments of the Filipino boxing champion funded by his winnings or earnings outside the ring was a real estate property and gasoline station. He also owns a sprawling farm in Malungon, Sarangani, where he functions as the local government’s tourism officer.
Aside from the ring, Pacquiao has become a showbiz personality and endorser of many products. He tried politics in the last elections but failed in the first district of South Cotabato. In the 2010 polls, he is reportedly eyeing the congressional seat in Sarangani province.
But when asked how much he’s actually worth after all those big-ticket fights, part of which he intends to fund his new investments, Pacquiao’s only reply was “Secret.”
Pacquiao’s plan to build a hotel here is seen to boost the tourism potential and strengthen the local hotel industry in this city, the economic hub of Central Mindanao region.
For now, there are at least two “best hotels” here, the East Asia Royal Hotel and Sydney Hotel.
While Pacquiao kept details of the hotel venture under wraps, he appeared bullish about his multi-million dollar special economic zone project in Barangay Olympog.
“We’re developing the economic zone within my personal property of 300 hectares. It’s patterned after the American style. There will be residential houses and a hospital,” he said.
“About half of the capital expenditure will be shouldered by me and the other half by outside investors,” he added.
Pacquiao also said the road network development of the economic zone project has already started.
As to when it would be completed, he did not give a categorical answer.
According to the Philippine Economic Zone Authority, the Manny Pacquiao Heights Development Corp. is investing some P1.2 billion to its economic zone project straddling 200 hectares.
Lilia de Lima, Peza director general, has said the 200 hectares would be developed into specialized zones: 30 hectares for a medical tourism park, 70 hectares for other tourism facilities, 40 hectares for a retirement haven, and 60 hectares for an information technology park.
In its project profile submitted to the zone authority, the firm would like to develop first the medical tourism zone.
Pacquiao sits as board chair and president of the company, while his wife, Jinkee, is a director.
