Govt unveils plan for new airport in Taguig
Written by Elaine Ramos Alanguilan - Manila Standard Today Saturday, 13 December 2008 01:49
Airports
THE City of Taguig and the Laguna Lake Development Authority are packaging an ambitious project to reclaim 3,000 hectares of lakeshore area to build a P3-billion complex that will hold an international airport.
The city government and the lake authority will form a 50-50 joint venture to oversee the three-stage development of the Lakeshore Project, and have tapped the Development Bank of the Philippines as financial adviser.
Taguig Mayor Sigfrido Tinga said the city’s strategic location made it ideal for the development of a large-scale low- to mid-density mixed-use project.
“The Lakeshore Project is a giant leap toward urban development that is well-planned, environment-friendly and growth-oriented. It will be master-planned, inclusionary and an airport-driven city,” Tinga said.
The inclusion of an airport, he said, was brought about by the need for a bigger airport to serve Metro Manila. It was also inspired by the success of airport cities like Jebel Ali Airport City in Dubai, Tinga said.
Out of the 3,000 hectares of lakeshore area that fall within Taguig’s jurisdiction, a core area of 250 to 300 hectares has been identified as the first stage of the project.
One benefit of using the lakeshore is that there are no squatters there, since the area is under water during the rainy season.
Bidding for the area’s development is set for the first quarter of 2009, and the winning bid will be announced in the succeeding quarter.
Tinga said the second stage would involve another 250 to 300 hectares and include other commercial, residential and recreational centers.
The third stage aims to include the development of the international airport, which will be at the southern end of the entire development. The airport project should take 10 to 15 years to build.
Tinga said the project was expected to draw investments from local and foreign groups and generate new jobs.
“We expect the Lakeshore Project to be one of the biggest investment opportunities in the country for property developers as well as the general public,” Tinga said.
He said the cost of developing the area had been estimated at P1 million per hectare for reclamation alone. Construction costs had been pegged at P10,000 per square meter to develop socialized housing, and P25,000 to P30,000 per square meter for higher-end development.
Tinga said that unlike the Fort Bonifacio Global City, the new project would not be exclusively for high-end development but would include up to 20 percent for socialized housing.
“This will be inclusionary zoning, where we will be integrating socialized housing units in the entire developmentm” he said.
“Fort Bonifacio will be the last high-end only development in the country.”
Palafox Associates was tapped to do the conceptual design.
Armando Samia, executive vice president of Development Bank of the Philippines, said bidders would vie for the right to recover the land and develop it under a mixed-use development concept.
“Development could be done via long-term lease and transfer or through joint venture with government. DBP’s role is not only as financial adviser but also as a possible financier,” Samia said.
The two proponents yesterday held a project briefing for prospective investors that include Megaworld Corp., San Miguel Properties, SM Development Corp., Federal Land, Filinvest Land, DMCI Holdings, Eton Properties, Greenfield Development Group, Sta. Lucia Realty, Alphaland, Robinsons Land and Century Properties.
Lake development authority general manager Edgardo Manda said: “We need to assert the authority of government to put order in Laguna Lake to make sure it is environmentally sound and we could put in place an efficient eco-water system that would allow us to source potable water from it by 2015,” Manda siad.
He estimated there are about 100,000 squatter families in Laguna de Bay, which covers 90,000 hectares. The Lakeshore Project will account for 3 percent to 3.5 percent of the lake’s total area.
