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Friday, March 29, 2024

Anchor Land signs P4-billion deal with Parañaque

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Anchor Land Holdings Inc. signed a P4-billion public-private partnership contract with the city government of Parañaque for a mixed-use development.

ALHI said in a statement the one-hectare mixed-use project would rise between Parañaque Integrated Terminal Exchange and Coastal Mall.

The project, an unsolicited proposal of ALHI to the local government of Parañaque, involves the construction of three towers. The first tower will house the satellite office of the city government while the second will be dedicated to office and commercial use. The third tower will be used as a bed-spacing facility. 

“We want to express our utmost gratitude to the city government of Parañaque for the trust they have given us for this project,” ALHI project director Aaron Tumao said.

“This is a very important milestone for Anchor Land as it gives us the opportunity to support Parañaque City in bringing its services closer to its people,” he said.

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Parañaque Mayor Edwin Olivarez said the satellite office would include the extension offices of the city’s business permit and licensing office and the assessor’s office which is responsible for processing permits for both local and foreign investors.

“This project and our satellite office will bring the city government’s services closer to our citizens and all sectors especially our business partners,” Olivarez said.

“Through this project, we are encouraging the private sector to invest in our city, in the Manila Bay area. We are making it very convenient for them to establish their businesses,” he said. 

There are 35,000 employees in Bay City who are working in integrated hotels and resorts such as Solaire Resort, City of Dreams and Okada Manila; IT/BPO industries; and the Department of Foreign Affairs.

Anchor Land said that with the continuing growth in Bay City, the project would make it easier for businesses to apply for their respective business requirements instead of transacting in the main city hall in Sucat.

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