MANILA, Philippines — Three major reclamation projects in Manila and Pasay are now ready to move forward following the signing of a memorandum of agreement among proponents and heads of the two cities.
These projects are by the Tieng family’s Manila Goldcoast Development Corp. (MGDC), the Sy family’s SM Prime Holdings Inc. and the Pasay Harbor City consortium which includes Davao-based businessman Dennis Uy.
MGDC’s project called the Solar City is a 148-hectare reclamation project which is a joint venture with the Manila local government unit. It involves the southern parcel of the Manila-Cavite coastal road and reclamation project - north sector.
SM Prime’s project known as “SM project” involves 360 hectares and is a joint venture with the local government of Pasay.
The Pasay Harbor City consortium’s 265-hectare reclamation project, on the other hand, is also joint venture with the Pasay local government.
Known as the “Pasay Harbor City project,” the project is being developed by consortium members Ulticon Builders, Uy’s Udenna Development and the China Harbor Engineering Co.
Stakeholders signed the agreement on Oct. 19.
During the signing, Manila Mayor Joseph Estrada said MGDC’s Solar City Manila’s reclamation project would generate an estimated P50 billion in revenues. The project is expected to start early next year.
Solar City involves the construction of three 140-hectare islands in Manila Bay, and is expected to start with the initial construction and dredging work next year.