Sunday, March 15, 2015

Property giants team up for Laguna Lakeshore project

The country's biggest developers, Ayala Land Inc. (ALI), Aboitiz Equity Ventures, Megaworld Corp., and SM Prime Holdings Inc. are forming a consortium to bid on a major infrastructure project offered by the government.

Located at western Laguna de Bay, the project consists of 700 hectares of land up for reclamation, with a 45-kilometer flood control dike including a six-lane toll road, and a 47-kilometer expressway from Bicutan, Taguig to Calamba, Laguna. It is valued at P123.8 billion, and pegged to ease traffic in southern Metro Manila and Laguna, areas that have been targeted for major residential developments.

The consortium, to be named Trident Infrastructure and Development Corp. (TIDC), will pool together the developer's resources for the Laguna Lakeshore Expressway and Dike Project (LLEDP). 

"Trident brings together the expertise, experience, financial strength, and network that is needed to successfully execute a project the size and scale of LLEDP," issued the consortium.

"The consortium also benefits from the combined financial muscle and the national and international network of experts that the four companies have, which will be able to benefit millions of Filipinos and thousands of businesses along the western shore of Laguna de Bay."

"The consortium also benefits from the combined financial muscle and the national and international network of experts that the four companies have, which will be able to benefit millions of Filipinos and thousands of businesses along the western shore of Laguna de Bay."

Up o 24 companies are vying for the project, including San Miguel, Rainbow Holdings Inc., and the MTD-PAVI-Hanshin Consortium. 


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