A multi-billion peso 318-hectare reclamation project in Manila Bay involving Manila City Hall and a private developer has been approved by the Philippine Competition Commission (PCC).
The project, which is situated just off the Manila South Harbor, will comprise a marina/yacht club, a business district, an entertainment complex, health and educational establishments, a pier area, etc.
Under the joint venture, the Manila local government will be given a 51 percent majority share in the project.
Waterfront Manila, a real estate developer, will foot the entire bill for the reclamation project, while City Hall will contribute its rights over the municipal waters.
President Duterte, it should be recalled, previously said he would reject any reclamation project in Manila Bay. He said interested parties should “wait until the next president.”