PHILIPPINE STAR/ EDD GUMBAN. For joint ventures that meet the thresholds under the Philippine Competition Act (PCA), PCC’s clearance is specific to competition implications in the commercial and residential real estate development markets in the affected areas. In the Commission Decision signed on March 9, the PCC found that the transaction does not result in substantial lessening of competition. ADVERTISEMENT Manila Goldcoast Development Corporation (MGDC) said the issuance of a Notice to Proceed (NTM) by the Philippine Reclamation Authority (PRA) as well as a Notice to Commence Actual Reclamation Works (NTCARW) has cleared the way for its 148-hectare Manila Bay reclamation project. Manileño - Horizon Manila, Biggest Reclamation Project in the Country to Start Construction in 2021 - YouTube. “The planned reclamation does not involve the 1.5-kilometer stretch between the Manila Yacht Club and the US Embassy along Roxas Boulevard. The Philippine Competition Commission announced that it had approved a new joint venture for a reclamation project in Manila Bay between the city government of Manila and another private partner. March 22, 2021. in Economy, News. The PRA, in the resolution, said it issued the NTM and the NTCARW pursuant to the issuance of a clearance by no less than Executive Secretary Salvador Medialdea, Jr., to the Manila Bay reclamation project. PCC approves Manila Bay reclamation joint venture posted March 19, 2021 at 06:58 pm by Manila Standard Business The Philippine Competition Commission said Friday it approved the proposed joint venture between the city government of Manila and Waterfront Manila Premier Development Inc. to reclaim 318 hectares of Manila Bay and develop it into a mixed-used project. © 2021 Manila Bulletin The Nation's Leading Newspaper. In a statement, the company said that the NTM and NTCARW were issued last February 22 by the PRA, through PRA Governing Board Resolution No. All Rights Reserved. THE Philippine Competition Commission (PCC) has approved a joint venture between JBros Construction Corp. and the City Government of Manila for a Manila Bay reclamation project. To date, the joint venture between Waterfront Manila and the City of Manila is the 211th transaction cleared by the PCC. The plan to reclaim about 318 hectares of the Manila Bay and turn it into a mixed-used development property got closer to fruition after the joint venture that will undertake the project secured the thumbs up from the Philippine Competition Commission (PCC). Published 2021-03-19 15:08:04. It even cited that the transaction results in a creation of a “new market” that is conventionally pro-competition. “The transaction is a new area of investment formed for the creation of a residential and commercial real estate development project. THE Philippine Competition Commission (PCC) has approved a joint venture between JBros Construction Corp. and the City Government of Manila for a Manila Bay reclamation project. Any kind of land reclamation would result in large displacement of the marine sediments and development of mud waves beneath the reclamation fill. Manila Solar City : A Manila Bay Reclamation Project to start this year | Booming Philippines - YouTube. PRA’s issuance of NTM and NTCARW followed the “no objection” clearance from the Office of the President, the company said. The Manila Waterfront City is a raw-land reclamation and development project covering 318-hectares of foreshore and offshore areas in Manila Bay. “The sharp decline in [SM Prime’s] price last Wednesday was a dramatic reaction to the DENR’s (Department of Environment and Natural Resources) planned rehabilitation of Manila Bay, which investors believe, will conflict with the plans of [SM Prime] to reclaim around 600 hectares in the vicinity (Pasay/Parañaque),” said Manuel Antonio G. Lisbona, PNB Securities, Inc. president. As the country’s antitrust authority, PCC is mandated under the PCA to review mergers, acquisitions and joint ventures of firms across all sectors, including GOCCs, that meet the threshold to ensure that these deals will not harm the interest of consumers. Located at the south of Manila South Harbor, the planned development will include a central business district, a gateway, a marina, a waterfront, as well as entertainment, health and education hubs. All Rights Reserved. Reclamation projects, such as the Manila Waterfront City, are assessed by the Philippine Reclamation Authority (PRA) for their technical, environmental, and socio-economic merits. The Solar City Manila project had been proposed way back more than 30 years ago as the Manila Goldcoast Reclamation Project (MGRP), which secured in 1991 a greenlight from the then Public Estates Authority (PEA), predecessor of the PRA, to pursue the project as the Manila-Cavite Coastal Road Reclamation-North Sector Reclamation Project (MCCRR-North Sector Reclamation). 5265 series of 2021, to the consortium of the MGDC and the City of Manila to build the Manila Solar City project at the reclaimed area. FREE READ - President Duterte's Action Thriller - Streets of Manila. 543 (s. 2006) and 74 (s.2019), considering the Memorandum of this Office dated 01 February 2019 granting clearance to proceed with the Solar City Project, and upon the representations of the PRA on the completion of the documentary requirements and concurrences of the relevant government agencies, please be informed that this Office interposes NO OBJECTION in the grant of the NTM and NTCARW for the Manila Solar City Project, subject to compliance with applicable laws, rules and regulations,” Medialdea said. Intramuros, Manila 1002 THE Philippine Competition Commission (PCC) has approved a joint venture between JBros Construction Corp. and the City Government of Manila for a Manila Bay reclamation project. The approved projects, Gonzales said, are the Navotas City Coastal Bay Reclamation Project, Pasay 360-Hectare Reclamation Project, Pasay 265-Hectare Reclamation Project, and Horizon Manila 418–Hectare Reclamation Project. 5265 series of 2021, to the consortium of the MGDC and the City of Manila to build the Manila Solar City project at the reclaimed area. P.O. Metro Manila has multitude of reclamation projects in varying stages of development: 0. Muralla cor Recoletos Sts. MGDC gets notice to proceed with bay reclamation project. PCC greenlights joint venture between Manila City Gov’t, Waterfront Manila for reclamation project in Manila Bay. Muralla cor Recoletos Sts. By PCC Published on March 19, 2021. President Rodrigo Duterte said he was unlikely to approve any proposed reclamation project in Manila Bay, saying the scope of the proposals was “almost mind-boggling” and “stupefying.” Duterte made the statement after the Philippine Reclamation Authority (PRA) last month said at least four reclamation projects had been given the green light. SM Prime Holdings, Inc. has received the official notice from the Pasay City government to proceed with its 360-hectare reclamation project within the city’s municipal waters, the Sy … The Manila Waterfront City is a raw-land reclamation and development project covering 318 hectares of foreshore and offshore areas in Manila Bay, the PCC said. posted February 26, 2021 at 09:30 pm by Manila Standard Business. Mar 23, 2021. PCC OKs joint venture for Manila Bay reclamation project March 19, 2021 March 19, 2021 2 min read MANILA – The Philippine Competition Commission (PCC) announced Friday that it approved the joint venture between the City Government of Manila and Waterfront Manila Premier Development Inc. to build the Manila Waterfront City. The Philippine Competition Commission has cleared the joint venture between the city government of Manila and JBros Construction Corp. for the … Home » MGDC gets clearance to proceed on Manila Bay reclamation project. Manila Solar City is a proposed mixed-used development to be built on a 148 hectare Pasay-SM Prime Manila Bay reclamation project set to proceed. The Manila Waterfront City (MWC) is a 318-hectare reclamation project of the City of Manila in partnership with Waterfront Manila Premier Development, Inc. that is envisioned to be the future Central Business District (CBD) of the City of Manila with commercial, institutional, office, retail and residential components. PRA had received a memorandum from Executive Secretary Medialdea last February 18 where the official assured that the OP has no objection to the start of the project. March 3, 2021. Acesite (Phils) Hotel Corp. of the Gatchalian family plans to mortgage Waterfront Manila Hotel and Casino to raise P8 billion and fund a major reclamation project in Manila Bay. In a statement, the company said that the NTM and NTCARW were issued last February 22 by the PRA, through PRA Governing Board Resolution No. Published March 3, 2021, 5:30 AM. PSE EDGE | March 29, 2021. March 22, 2021. “The PRA’s request for NTMs and NTCARWs relative to the Horizon Manila Reclamation Project and Manila Waterfront Reclamation shall be acted upon separately,” Medialdea noted. 0. Patrols reveal 6 China navy ships, ... (PCC) has approved another joint venture between the Manila City government and a private firm for a reclamation project in the Manila Bay. The New Manila Bay City of Pearl is a master-planned reclamation and urban development connecting directly to Roxas Boulevard that will rebirth the City of Manila as Asia’s most progressive integral business district and tourist destination in the 21 st century onwards. PHILIPPINE STAR/ EDD GUMBAN. The city government of Manila entered into a joint venture agreement with WMPDI for Manila Waterfront City, a raw land reclamation and development project covering 318 … The MGDC is part of the Solar Group of the Tieng family that is into entertainment, satellite communications, logistics, distribution and property landbanking and development. ALL SECTIONS Saturday April 17, 2021 [2651952,2680707,2680472,2680544,2680307,2680323,2680304], PCC approves JV of Manila and Waterfront for reclamation project, Gov’t targets frontline workers inoculation in July, Converge investing P5B in Trans-Pacific cable system, LANDBANK support to swine industry now at P30B, Premium income of life insurers up 5.9% at P248 B, Bulk of electric coop loans funneled to calamity-related borrowings, BSP tightens capital adequacy assessment of key big banks, SM Prime sticks to P80-B capex; Tetangco joins board, Dominguez to take blame if pork imports fail, Ayala company cites force majeure on petroleum drilling delay, Globe tops network modernization targets in Q1, hikes capex, DTI resolves majority of 2020 consumer complaints, SEC approves Monde Nissin’s P72.45-B IPO. “This refers to your Memorandum dated 07 December 2020, requesting authority from the Offie of the President to issue the Notice to Mobilize (NTM) and the Notice to Commence Actual Reclamation Works (NTCARW) for the Manila Solar City Project, as well as the confirmation of the PRA Board Resolution relative thereto,” Medialdea said in the Feb. 18, 2021 memorandum. P.O. It aims to help decongest National Capital Region’s capital and spur business opportunities for the City of Manila. THE Philippine Competition Commission (PCC) has approved a joint venture between JBros Construction Corp. and the City Government of Manila for a Manila Bay reclamation project. PASIG CITY, March 19 -- The Philippine Competition Commission (PCC) has approved the joint venture between the City Government of Manila and developer Waterfront Manila Premier Development, Inc. 3/22/2021. PHILIPPINE STAR/ EDD GUMBAN. Home » MGDC gets clearance to proceed on Manila Bay reclamation project. “Pursuant to Executive Order Nos. Located at the south of Manila South Harbor, the planned development will include a central business district, a gateway, a marina, a waterfront, as well as entertainment, health and education hubs. by Philippine Resources - March 23, 2021. It will be located at the back of the Philippine Navy and Manila Yacht Club 600 meters towards the bay.”. The Manila Waterfront City is a raw-land reclamation and development project covering 318 hectares of foreshore and offshore areas in Manila Bay, PCC said in a statement on Friday. The Manila Waterfront City is a raw-land reclamation and development project covering 318-hectares of foreshore and offshore areas in Manila Bay. BOX769. Intramuros, Manila 1002 © 2021 Manila Bulletin The Nation's Leading Newspaper. Under the proposal, Waterfront Manila, a real estate developer under the Crisanta Realty Development Corporation and Pacific Rehouse Corporation, will contribute capital and expertise, while the local government of Manila will contribute rights over municipal waters where the project will be developed. “There are neither affected customers nor any commercial activity in the relevant geographic market,” it added. The estate developer also disputed claims that the project would destroy the Manila Bay sunset view. The cities of Manila and Pasay have signed a memorandum of agreement (MOA) to cooperate and extend assistance to the proposed reclamation projects of three private groups in Manila Bay … Manila Goldcoast Development Corp. led by the Tieng family received a notice from the Philippine Reclamation Authority to proceed with the 148-hectare Solar City Manila Manila Bay reclamation project. The parties have proposed to build “Manila Waterfront City” over Manila Bay’s reclamation horizon. Property News. The competition regulator said that it found no substantial lessening of competition on the creation of the joint venture for the Manila Horizon reclamation project, a 419-hectare raw-land development of three islands on Manila Bay. [2635940,2680707,2680472,2680544,2680307,2680323,2680304], MGDC gets clearance to proceed on Manila Bay reclamation project, Gov’t targets frontline workers inoculation in July, Converge investing P5B in Trans-Pacific cable system, LANDBANK support to swine industry now at P30B, Premium income of life insurers up 5.9% at P248 B, Bulk of electric coop loans funneled to calamity-related borrowings, BSP tightens capital adequacy assessment of key big banks, SM Prime sticks to P80-B capex; Tetangco joins board, Dominguez to take blame if pork imports fail, Ayala company cites force majeure on petroleum drilling delay, Globe tops network modernization targets in Q1, hikes capex, DTI resolves majority of 2020 consumer complaints, SEC approves Monde Nissin’s P72.45-B IPO. TED CORDERO, GMA News. Manila Bay will soon become the location of a commercial, residential and tourism hub in the country after its proponent received the go signal to start the development of the ambitious project. What the project contractors are doing is reclaiming parts of Manila Bay. by Bernie Cahiles-Magkilat. The resulting unincorporated joint venture shall be governed by a sharing arrangement with 51 percent for Manila City Government and 49 percent for Waterfront Manila. BOX769. Proponents of the 418-hectare reclamation project in Manila are ready to jumpstart the massive reclamation of the sprawling development, targeting … Duterte, however, said he has not signed any document that allows the reclamation in Manila Bay. The Philippine Competition Commission (PCC) has approved the joint venture between the City Government of Manila and developer Waterfront Manila Premier Development, Inc. (Waterfront Manila) for their planned Manila Bay reclamation project. On March 31, 2011, the PRA Board affirmed the “previous award of the MCCRR-North Sector Reclamation Project to Manila Goldcoast Development Corp.”. This will expand the existing market and likely create an opportunity for the emergence of new markets for commercial and residential real estate within the City of Manila,” the decision read.