Abigail Binay
The city government of Makati has entered into an agreement with a Chinese realty developer to conduct a feasibility study for a mass housing project that can benefit over 5,000 informal settler families.
A memorandum of understanding was signed on Thursday by Mayor Abby Binay and Savio Chu, representative of Shanghai Nanjiang Group Co. Ltd.
“This agreement is the initial step toward a public-private partnership (PPP) venture that can provide a viable and sustainable solution to our housing issues, primarily the shelter needs of informal settlers in the city,” Binay said in a statement.
“The City of Makati is a strong advocate of the PPP approach toward development. With our country’s renewed ties with China under the administration of President Duterte, we can look forward to more fruitful collaboration with reputable private companies based in China,” the mayor added.
Under the agreement, the study for the construction of mass housing units will be conducted by the Chinese firm at no cost to the city. Shanghai Nanjiang will be given exclusive access to relevant documents while it conducts evaluation of Makati’s existing land inventory and operations.
The company has the option to submit the study as an unsolicited proposal that will be evaluated under Makati’s PPP Ordinance and other relevant regulations.
Should the city government conduct an open bidding using Shanghai Nanjiang’s proposal, the winning proponent will shoulder the cost of the feasibility study. If Shanghai Nanjiang wins the bid, however, the cost shall automatically form part of the project cost.