The city of Taguig is planning a massive P3 billion reclamation project along Laguna Lake to put up a third airport patterned after Jebel Ali Airport City in Dubai.
Mayor Sigfrido Tinga said that Taguig has entered into joint venture with the Laguna Lake Development Authority to reclaim 3,000 hectares along the shorelines of the 90,000 hectare Laguna de Bay.
The center of the development is an airport, the third to be developed after Manila and Clark.
Armando O. Samia, executive vice president of the Development Bank of the Philippines (DBP) which is the financial advisor of the development said a core area of 250 to 300 hectares or about the size of Makati central business district representing the first phase of the mega project has been offered yesterday in an investors’ briefing to the country’s property giants namely the SM Development Corp., Robinsons Land Corp., Filinvest Land Inc., Eaton Properties, Megaworld Corp., R-II Builders, Landco, Federal Land, Greenfield Development, Sta. Lucia among others. [Continue Reading...]