QATAR-BASED investment firm JTA International Investment Holding, which has subsidiaries in energy, tourism, and technology, is planning major projects within the Philippines, including a 60% stake in tycoon Dennis H. Uy’s $2-billion tech city project in Pampanga, two hotels in Cebu, and a tertiary hospital outside Metro Manila.
“We had a gathering with Mr. Dennis Uy last night, they usually’re very interested to partner with JTA,” JTA Holding Philippines Country Representative Juan Vito C. Genson told reporters on the sidelines of a briefing on Tuesday.
The proposed Silicon Valley-type Tech City will rise on a 117-hectare land between Mexico and Angeles, Pampanga.
“In case you ask the people from Dubai, they’ve Burj Khalifa, the tallest tower on the planet. We would like to have some unique projects within the Philippines, just like the first tech city in Asia, or the tallest tower in Asia,” JTA Founder and Chief Executive Officer Amir Ali Salemi said in the course of the briefing.
The holding firm can be considering investments in two five-star hotels in Cebu, valued at roughly $1 billion (about P57.81 billion).
These projects include a hotel with a condominium and resort development, and one other hotel with a resort and casino.
It’s moreover looking to take a position about $300 million (P17.34 billion) in a tertiary hospital outside Metro Manila.
While the projects are estimated to have a complete value of $3 billion, Mr. Salemi noted that every one are still under negotiation and the amounts have yet to be finalized.
Former Philippine Chamber of Commerce and Industry President Enunina V. Mangio said JTA goals to begin a project by the fourth quarter of 2026.
Nevertheless, Mr. Salemi said the investment timeline would rely on how quickly JTA can secure local partners for the projects.
Other firms and state agencies have submitted potential projects to JTA, Ms. Mangio added.
Possible projects presented to JTA include a world port in Digos, Davao, Department of Energy solar energy projects, and a public-private partnership for a world airport in General Santos City.
“Those are the things that they’ve explored,” Ms. Mangio said. “They see some really positive possibility for his or her investment; they’re coming back any time in March.”
Despite ongoing macroeconomic risks, Mr. Salemi said the Philippines stays a sexy investment destination.
He cited a young and expert workforce, improving infrastructure, and pro-business economic reforms.
“Within the Middle East, now we have many challenges, and we know the way we are able to work and invest amid these challenges. So, we don’t have any problem to take a position here,” Mr. Salemi said.
JTA has subsidiary firms in energy, civil, innovation and technology, tourism, transportation, health, and agriculture and food security. — Beatriz Marie D. Cruz