Realty firm Belle Corporation is aiming to grow its operating profit by 10 percent as it prepares to undertake projects worth a total of P16.7 billion.

Belle chief finance officer Emmanuel Gana said the company is spending "between P600 million to P700 million" this year for its flagship Tagaytay Highlands where two new phases "Nob Hill" and "Yume" will be added.

Nob Hill and Yume will be launched this quarter, and will add to inventories offered by the existing phases of the 1,700 hectare estate.

Belle has also started work for the P9 billion integrated leisure facility that will be constructed in the government-initiated PAGCOR City in Parañaque.

To be developed under unit Premium Leisure and Amusement, Inc., (PLAI), the project will be anchored by a hotel-casino complex in a 4.2 hectare property.

PLAI will be operated in partnership with listed Leisure Resort World Corporation which will responsible for the locators for the casino.

The partnership works on a profit-sharing agreement for the 1.2 million to 2 million square meter of casino space that will fill two floors.

While the plan for the hotel remains in the drawing board, Gana said the casino is seen to be operational through a soft-opening by 2011.

The project will also have a retail component and will be developed in three phases, said Gana. "For the first phase, Belle would be spending P4.5 billion," he said.

PLAI was previously a unit of SM group of companies until Belle signed an agreement with SM Commercial Properties, Inc. to acquire PLAI in exchange for 2.7 billion unissued Belle shares.

Meanwhile, Belle is also planning to spend a total of P7 billion for the Tagaytay Highlands Tourism Economic Zone in Tanauan, Batangas, a 272-hectare master-planned integrated resort complex which will be added into the existing Tagaytay Highlands estate.

The Tourism Eco-Zone will feature tourist facilities and activities for nature adventure and sports and recreation like a 9-hole golf course and water sports facilities, high-end-hotel accommodation facilities, healthtels, wellness clinics, retirement villages, farm lots, and others.