Filtered By: Money

Waterfront Manila to develop man-made island in Manila Bay

Waterfront Manila Premier Development Inc. unveiled at the Manila City Hall on Thursday, Oct. 26, 2017, a mixed-use development on a man-made island in Manila Bay. Among those who witnessed the unveiling were (from left)  Waterfront Manila chairman Sergio Ortiz-Luis Jr., Waterfront Manila director Elvira Ting, Manila City May Joseph Estrada,  and Waterfront Manila president and CEO Kenneth Gatchalian. Photo by Jon Viktor Cabuenas, GMA News

Waterfront Manila Premier Development Inc. (WMPD) intends to turn a 318-hectare area on the shores of Manila Bay into a multibillion-peso mixed-use development called the Manila Waterfront City.

"The coastal configuration of this 318-hectare island is adjusted away from the original Roxas Boulevard shoreline to become compliment to the old waterfront," WMPD chairman Sergio Ortiz-Luis Jr. told reporters during a press conference at the Manila City Hall.

The planned development will include residential buildings, commercial centers, office spaces, hospitality and entertainment facilities for hotels, casinos, and gaming venues, Luis noted.

It will also include amusement parks, medical centers, government centers, schools, academies, and other establishments such as museums and exhibit galleries.

WMPD president and CEO Kenneth Gatchalian did not elaborate on the project cost, but said project would require "billions" of pesos in investment and would probably start in 2019—if the processing of requirements goes smoothly.

Manila City Mayor Joseph Estrada also signed a memorandum of understanding with the Philippine Reclamation Authority (PRA) for the project.

The PRA said the city government of Manila and WMPD have some 18 months to process all the permits for the planned development. It will then take six months to review the applications before construction can start. — VDS, GMA News