Ayala Land, Eton tie up to build P53-B mixed-use estate

Property developers Ayala Land Inc. (ALI) and Eton Properties Philippines Inc. (EPPI) will jointly invest P53 billion to initially develop a 35-hectare mixed-use estate that spans portions of Pasig and Quezon City over the next 10 years.

Ma. Carmela Ignacio, assistant vice president of ALI’s Strategic Landbank Management Group, said in a press launch Thursday that bulk, or 75 percent of total spending, would be earmarked for the construction of 10 residential towers in the estate, Parklinks.

Ignacio said the residential developments would be introduced by its subsidiaries Ayala Land Premier and Avida Land Corp.

MMDA temporarily halts construction of MRT line 7 rail track in Quezon City

The Metropolitan Manila Development Authority (MMDA) has explained that the MRT-7 Project traffic management task force gave them a short notice about the construction, prompting the agency to postpone it.

“The MMDA is 100 percent in support of the governments Build, Build, Build program. The public needs it. We are just fixing what is being done,” MMDA assistant general manager, Jojo Garcia said.

The agency added that it will study first the possible impact on traffic flow of the construction of MRT-7 along North Avenue, Quezon City.

The agency noted North Avenue is too narrow unlike Commonwealth Avenue, where some parts of the MRT line seven is being constructed.

The construction will occupy one lane of the North Avenue, leaving motorists with only two lanes to use.

“This will help discuss what really the plans are, like rerouting schemes, and if they have additional inputs, and if they need enforcement, we will do it right away,” MRT-7 Traffic Management Task Force PIO, Evangeline Evangelista said.

Based on the plan of MRT-7, the construction of its first phase will begin in front of the Veterans’ Memorial Medical Center and on Agham Road. The second phase will begin on a part of Agham Road and Mindanao Avenue, while the third phase will start on EDSA and Mindanao Avenue.

The MRT Line 7 is a 22-kilometer rail system that will begin on EDSA North Avenue and will end in San Jose del Monte, Bulacan.

The government targets to complete its construction in the first quarter of 2020.

Ayala waives fees from Taguig ITX

CONGLOMERATE Ayala Corp. has agreed for forgo the annual grantor payment that it previously sought for the construction, operation and maintenance of the Taguig Integrated Terminal Exchange (ITX).

Transportation Secretary Arthur P. Tugade said this would result in “P9 billion” savings on government funds, or about P277 million in grantor payments annually.

To recall, Ayala Land Inc. sought for P277 million in annual grantor payments for 35 years when it bid for the P4-billion Integrated Terminal System-South contract in 2015.

Tugade added he managed to have Ayala officials waive the said fee.

“Let’s find ways how we can stop the practice and paradigm of government paying the private sector royalty grounds as they operate terminals,” he said.

According to Tugade, discussions for the possible waiving of the fee started last year when he also convinced Ayala to share 2 percent of the facility’s income to the government.

“From the start of its commercial operation, until the end of the concession agreement, Ayala will share 2 percent of their income from the commercial spaces in favor of the government,” he said.

The said deal was part of the Aquino administration’s Public-Private Partnership (PPP) Program. It was then adopted by the “Build, Build, Build” (BBB) program of the Duterte administration, and was rebranded as Taguig ITX.

The facility is envisioned to be a six-story building on a 5.57-hectare property inside the Food Terminal Inc. (FTI) compound. It will house a passenger concourse, a centralized ticketing area and several business and retail establishments.

It will have a provision for 1,200 public utility buses and vehicles’ bays and parking.

Upon its completion, Taguig ITX is expected to house around 4,000 buses and accommodate up to 160,000 passengers daily.

The facility will also feature a pedestrian walkway connection to the Philippine National Railways FTI station and the proposed subway system.

Construction of the Taguig ITX is scheduled for the second half of 2018 and is expected to start operation by the first half of 2020. 

Gov’t, ALI break ground on P9-B transport terminal

 The government saved P9 billion in the construction of the Taguig Integrated Terminal Exchange (ITX) project as the private partner, Ayala Land, Inc. (ALI), agreed to waive royalties, or Annual Grantor Payment (AGP), of P277 million per annum for the next 35 years, according to Department of Transportation (DOTr) Arthur Tugade.

The DOTr yesterday led the groundbreaking of the over P5-billion ITX, a state partnership with Ayala Corp. meant to decongest traffic at EDSA and cater to all provincial buses plying the south of Luzon, Visayas and Mindandao destinations.

The Taguig ITX is a 6-storey building on a 5.57-hectare property inside the FTI compound which would house a passenger concourse, a centralized ticketing area plus business and retail establishments. Construction starts by the 2nd half of 2018 and the terminal is scheduled to start operation by 1st half of 2020.

It can accommodate 1,200 public utility buses and vehicles’ bays and parking.  Once completed, it will house around 4,000 buses, with a capacity for 160,000 passengers daily. It will also feature a pedestrian walkway connection to the PNR FTI station and the proposed subway system.

DOTr Secretary Tugade said he asked ALI to forgo the P9-billion AGP. ALI also agreed to share 2% of their income from the commercial spaces to the government, “a win-win solution that will ultimately benefit the Filipino people.”