MANILA — President Ferdinand Marcos, Jr. is set to inaugurate on Wednesday the first phase of the P18-billion Pasig River Urban Development, a mixed-use facility along one of Metro Manila’s main waterway that would be funded by the private sector.

The 500-meter embankment behind the Manila Central Post Office serves as a showcase area for potential investors to see how the government can create a walkway with commercial spaces traversing the capital region, said Jose Rizalino Acuzar, Secretary of the Department of Human Settlements and Urban Development (DHSUD).

“Wala pong pera ng gobyerno na ginamit dito… Kumukuha si First Lady ng mga donation. Kaya ito mabilis ang gawaan kasi donation ito, hindi ito nag-bidding,” he told reporters.

“Sa ibabaw ng commercial bike lane at pedestrian, sa ilalim commercial. ‘Yun po ay property na may real estate value. ‘Yun po ang gagamiting pondo na pagpapatayo nito,” he said that the donations may be considered as investments.

“Kailangan po natin mag-isip ng mga mekanismo para mapausad na ang ating ekonomiya kung ang gobyerno po ay nahihirapan,” he added.

The promenade will be 25-kilometers long on each side of the Pasig River, the DHSUD chief said.

“Ang konsepto po nito ay idugtong ang Manila Bay at Laguna de Bay… Hindi lang po ito beautification. Functional po ito. Magagamit din itong walkway, bikeline, pati na ng scooter at electrical scooters,” he said.

“Ito po ay maaasahan within 3 years pero within 2 years’ time malalakaran na ito.”

The project is expected to displace between 5,000 and 10,000 informal settler families, Acuzar said.

Relocation areas for those who will be displaced will be built in Rizal and in the Port Area in Manila, he said, underscoring that these would also be funded by the private sector.

“Almost 60,000 units ang itatayo nating pabahay diyan. Ngayon ay nagcli-clearing na para maumpisahan na ang proyekto,” he said.

The entire Pasig River promenade would lead to a 150-hectare park in Rizal province, that may be called “Marcos Park,” Acuzar said.

“Itong project na ito ay dudugtong sa isang Central Park sa Rizal na almost 150 hectares na pinagplaplanuhan naming gawing central park,” he said.

“Marcos Park na pang-palit sa Luneta… Baka po maging Marcos Park kasi siya ang nagpagawa,” he added.

Acuzar did not say how much of the P18 billion price tag has already been donated, saying that most of the fund are still pledges.

In July 2023, Marcos Jr. signed Executive Order No. 35, directing the executive branch to support the “rehabilitation of the Pasig River to its historically pristine condition conducive to transport, recreation and tourism.”

First Lady Liza Marcos spearheaded the creation of an inter-agency group to create a master plan for the development, the DHSUD said.

The government hopes that the Pasig River can “play a significant role in economic development activities in the metropolis just like other waterways in major cities in the world, the agency said.