MANILA - The Philippine Reclamation Authority (PRA), partner developers, and the local government of Minglanilla in Cebu have signed a "milestone" memorandum of agreement for the 100-hectare Ming-Mori reclamation project, Cebu Landmasters Inc said Friday.
The "ambitious P20 billion" Minglanilla Techno-Business Park
project, to be developed at the Municipality of Minglanilla shoreline in the south of Cebu City, received the approval of the PRA, its developer Cebu Landmasters Inc (CLI) said in a statement.
"This is a milestone in the project because it signals another phase of the progression towards the eventual actual start in creating a new 100-hectares of land in 2 islands that will be additional space for development, for economic activity, for leisure, for business, which means a better life for people of Minglanilla and communities around it,” PRA general manager and CEO Janilo Rubiato.
The project earlier secured its Environmental Compliance Certificate (ECC) following a 5-year comprehensive review, the CLI said.
“The project will take CLI to a brand-new level and widen the range of our customer base to include light-industrial and technology-driven companies. We aim to achieve a balanced and mutually supporting relationship between urban mixed-use development, light-industrial land use and environmental stewardship," CLI CEO Jose Soberano III.
The first phase of the project will include commercial, residential and institutional zones, Soberano said.
CLI said it tapped Singapore-based Surbana Jurong Consultants for the project's masterplan.
PRA's Rubiato said the developers need to submit more documents for review and other pre-construction requirements before the granting of the notice to proceed.
Cebu Landmasters is a listed real estate firm focused mainly in Visayas and Mindanao.
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