RP defers construction of grand central terminal
MANILA, Philippines - The Philippines has deferred construction of a grand central terminal that will connect the capital’s three train systems.
The deferral was made after Vice President Noli de Castro, who is also chairman of the National Housing Agency (NHA), proposed to locate the facility at the vacant NHA property beside Trinoma, Socioeconomic Planning Secretary Ralph Recto said.
Before de Castro’s proposal, the terminal – called the Metro Manila Integrated Rail Terminal (MMIRT) – was originally planned to be put up at the SM City Annex mall in Quezon City.
Trinoma is a Quezon City mall owned and managed by Ayala Land Inc., the Philippines’ largest real estate company.
Meanwhile, the SM City Annex is owned and operated by SM Prime Holdings, Inc., controlled by the Sy family, the Philippines’ richest family.
“I think it is the most pragmatic location for the Central Terminal. But of course, the DOTC will have to decide on it," said Recto, who is also National Economic and Development Authority (NEDA) director general.
Recto made this remark after meeting with Ayala Land president Antonino Aquino.
The DOTC had originally designed the grand central terminal, which will connect MRT 3, MRT 7 and the LRT North Extension, to be located in front of SM City.
The facility, which may cost P1.5 billion, will connect MRT 3, which runs from Pasay to Quezon City; LRT 1, which stretches from Monumento to Baclaran; and MRT 7, which will span Commonwealth Avenue to Bulacan.
LRT1 and MRT 3 will soon be connected, allowing commuters to travel from Pasay to Caloocan City.
Since SM is expected to benefit by locating the terminal within its mall, the government has hoped it will pay for at least half of the facility’s construction costs.
The SM Group has yet to issue a decision about the matter.
Like the SM Group, Ayala Land has yet to indicate if it is willing to spend for a portion of the project, Recto said.
"Government will be looking at the alternative location because it’s near both Trinoma and SM. It will satisfy both malls and be profitable for the NHA. In the end, you'll have a better grand central terminal," Recto said.
But NEDA sources said that changing the facility’s original location would require more time which the project does not have.
If approved, the change would delay the project by another two to four months.
No official estimate of the additional cost is available, the NEDA official added. - GMANews.TV
The deferral was made after Vice President Noli de Castro, who is also chairman of the National Housing Agency (NHA), proposed to locate the facility at the vacant NHA property beside Trinoma, Socioeconomic Planning Secretary Ralph Recto said.
Before de Castro’s proposal, the terminal – called the Metro Manila Integrated Rail Terminal (MMIRT) – was originally planned to be put up at the SM City Annex mall in Quezon City.
Trinoma is a Quezon City mall owned and managed by Ayala Land Inc., the Philippines’ largest real estate company.
Meanwhile, the SM City Annex is owned and operated by SM Prime Holdings, Inc., controlled by the Sy family, the Philippines’ richest family.
“I think it is the most pragmatic location for the Central Terminal. But of course, the DOTC will have to decide on it," said Recto, who is also National Economic and Development Authority (NEDA) director general.
Recto made this remark after meeting with Ayala Land president Antonino Aquino.
The DOTC had originally designed the grand central terminal, which will connect MRT 3, MRT 7 and the LRT North Extension, to be located in front of SM City.
The facility, which may cost P1.5 billion, will connect MRT 3, which runs from Pasay to Quezon City; LRT 1, which stretches from Monumento to Baclaran; and MRT 7, which will span Commonwealth Avenue to Bulacan.
LRT1 and MRT 3 will soon be connected, allowing commuters to travel from Pasay to Caloocan City.
Since SM is expected to benefit by locating the terminal within its mall, the government has hoped it will pay for at least half of the facility’s construction costs.
The SM Group has yet to issue a decision about the matter.
Like the SM Group, Ayala Land has yet to indicate if it is willing to spend for a portion of the project, Recto said.
"Government will be looking at the alternative location because it’s near both Trinoma and SM. It will satisfy both malls and be profitable for the NHA. In the end, you'll have a better grand central terminal," Recto said.
But NEDA sources said that changing the facility’s original location would require more time which the project does not have.
If approved, the change would delay the project by another two to four months.
No official estimate of the additional cost is available, the NEDA official added. - GMANews.TV
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