Manila, Nov 26 (IANS): Construction of Asia's largest one-stop entertainment complex which puts shopping, gaming, accommodation, culture and entertainment under one roof, is coming up at Manila Bay in the Philippines.

Once completed, it will become a leading tourism destination, business communication hub and one of the largest casino-resort complex in Asia, said Kazuo Okada, project investor and founder of Japan's Universal Entertainment Corporation, in an interview with Xinhua in Manila.

The project, by the name of Manila Bay Resort, covers an area of 1.13 million square metres, four times larger than the nearby Solaire Manila Resorts which opened last March.

It will be a high-end entertainment complex equipped with multifunction facilities, including a commercial and budget hotel zone, casino and five-star hotel zone with VIP private space, shopping mall with luxury brand shops and food and beverage zone. It will cater to high-end tourists from around the world.

The whole project is expected to cost an investment of 250 billion pesos ($5.75 billion) to be provided by Japanese gambling magnate Kazuo Okada. Its first phase will be completed by early 2015.

Operation of the entertainment complex will spur economic growth of the Philippines as it will strengthen competitiveness of Manila airport as it is just 13 minutes' drive from Ninoy Aquino Airport to the new seaside project, Okada said.

Moreover, the project will create jobs for 3,000 Filipinos during construction and for 17,000 people after its operation, he added.

Asked why he chose the Philippines as the location for this landmark project, Okada said Filipinos are well known for their English proficiency, hospitality and good education background, which are the essential requirements for high-quality services.

Secondly, the Philippines, with more than 7,000 islands edged by white sand and turquoise waters filled with some of the world's most diverse marine life, is an ideal place for tourists to visit in Asia. Tourists can relax and enjoy the great sunshine at the project.

Most important is the country's good location, Okada said, noting that the Philippines is adjacent to Singapore and other ASEAN countries, China as well as Hong Kong and Macao.

He believes its huge gaming venues will draw millions of newly well-off Asian visitors.