Annika has signed an agreement with Subic Neocove Corporation for a 27 hole golf course in the northwestern part of Subic Bay. The course is a key part of a $250 million fully integrated leisure, sports and entertainment facility spread over a 457-hectare beachfront property fronting Subic Bay. The Master Plan is now complete and Phase 1 of design is underway. Construction of the golf course should start in late 2010.
