Manila Mayor Joseph Estrada
The cities of Manila and Pasay have signed a memorandum of agreement (MOA) to cooperate and extend assistance to the proposed reclamation projects of three private groups in Manila Bay which are expected to benefit the two premier coastal cities in Metro Manila.
The MOA was signed by Manila Mayor Joseph Estrada, and Pasay City Mayor Antonino Calixto, along with representatives from the three reclamation project proponents, namely Manila Goldcoast Development Corp. (MGDC), SM Prime Holdings Inc. and the Pasay Harbor City consortium.
MOA signing
The projects include the MGDC’s 148-hectare reclamation project involving the southern parcel of the Manila-Cavite Coastal Road and Reclamation Project-North Sector, or the Solar City project; the SM Prime Holdings’ 300-hectare and 60-hectare projects, or the SM project; and the Pasay Harbor City consortium’s 265-hectare reclamation project, or the Pasay Harbor City project.
Representatives of the three reclamation project proponents, namely Wilson Tieng, president of MGDC; Noel Sanchez, senior assistant vice president for external affairs, commercial properties of SM Prime Holdings; and Charlie Gonzales of Ulticon Builders, a member of the Pasay Harbor City consortium along with Udenna Development of Davao businessman Dennis Uy, and the China Harbor Engineering Co., were at the MOA signing ceremonies held recently at the Sofitel in Pasay City.
P50B in revenues
In a statement, Estrada said MGDC’s Solar City project is expected to generate an estimated P50 billion in revenues for the city and create 500,000 new jobs for residents of Manila.
Estrada said the 148-hectare project would start early next year.