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ALBAY Representative Joey Salceda has welcomed President Ferdinand Marcos Jr.\u2019s decision to allow the resumption of the Pasay City-led reclamation projects in Manila Bay.<\/p>\n
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The Pasay Eco-City Coastal Development Projects include the 360-hectare reclamation project under a joint venture with SM Smart City Infrastructure and Development Corporation dubbed \u201cPasay 360,\u201d and 265-hectare offshore called \u201cPasay 265,\u201d a \u201cnew cosmopolitan, eco-friendly and iconic waterfront city,\u201d under joint venture with the Pasay Harbor City Consortium.<\/p>\n
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The veteran solon said he is grateful that President Marcos saw the work of the Committee on Ways and Means in emphasizing the revenue and economic implications of keeping the projects suspended.<\/p>\n
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During one of the hearings of the committee, it was emphasized Pasay City is in fact a very strong case for responsible reclamation.<\/p>\n
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\u201cHistorical flooding maps show that the existing Pasay reclamation projects have in fact provided flood protection. This is as opposed to areas without a reclamation project fronting their shore, which have experienced more flooding than areas with a reclamation project,\u201d Salceda said.<\/p>\n
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Salceda said both projects combined, based on their estimates, could yield as much as P563 billion in real estate assets for the government.<\/p>\n
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By law, 50 percent of Philippine Reclamation Authority income, under Republic Act 7279, is to be earmarked for housing.<\/p>\n
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Revenues from these projects could fund President Marcos\u2019s ambitious housing program.<\/p>\n
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\u201cMoving forward, we also hope that other reclamation projects with complete compliance and high level of construction progress can be pushed through. One such project is the 318-hectare Manila Waterfront City Development Project, which has been also been suspended, but which appears to be fully compliant with DENR requirements,\u201d Salceda said.<\/p>\n
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During the committee hearings, it was clarified that, contrary to some published reports, the City of Manila does not have objections and in fact actively supports its resumption.<\/p>\n
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\u201cThe US Embassy\u2019s expressed reservations were also clarified, and they were not actually objections. I also emphasized that, if there are national security concerns, they should properly be channeled in the Interagency Investment Promotion Coordination Committee established under the Foreign Investment Act amendments, so that they could be heard and formally resolved,\u201d Salceda explained.<\/p>\n
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The lawmaker added that the President\u2019s recent action reflects that this government\u2019s stance on reclamation will be rules-based, data-driven, and evidence-based.<\/p>\n
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