PEZA grants incentives for ₱10-billion Hann Reserve project in Clark
Casino operator Hann Philippines Inc. (HPI) has secured government incentives for its flagship Hann Reserve project, backed by an initial investment of at least ₱10 billion, according to the Philippine Economic Zone Authority (PEZA).
In a statement on Wednesday, July 1, PEZA said it signed a registration agreement with HPI on June 23, formally classifying the company’s New Clark City property as an ecozone domestic market enterprise for tourism.
The investment promotion agency (IPA) said the registration allows HPI to operate world-class tourism-related facilities within Hann Ecozone, which is being positioned as a premier gaming and leisure destination.
The registration also entitles HPI to government incentives, including exemptions from certain national and local taxes and additional deductions for training expenses.
In line with the agreement, HPI will invest an initial amount of around ₱10 billion in the project, which is expected to generate more than 220 tourism-related jobs, PEZA said.
The registration agreement builds on a supplemental agreement signed with PEZA last year, which registered Hann Ecozone as a mixed-use special economic zone.
The designation paves the way for Hann Reserve to integrate manufacturing, agro-industrial, tourism, and information technology (IT) activities within a single ecozone, enabling it to attract a broader range of investors.
Once fully operational, Hann Reserve will feature a commercial center, luxury hotels, residential developments, an international school, wellness sanctuaries, and public parks.
The ecozone is also expected to host the country’s first Professional Golfers’ Association of America (PGA)-affiliated golf course development.
Hann Reserve began preview operations on Jan. 31 as part of its preparations for full commercial operations.
“As Hann Reserve continues to take shape, the development is expected to create employment opportunities, stimulate local businesses, and contribute to the long-term economic growth of the region,” PEZA said. - Dexter Barro II