Manila — President Ferdinand Marcos, Jr. is scheduled to unveil the initial phase of the P18-billion Pasig River Urban Development on Wednesday. This mixed-use facility, situated along one of Metro Manila's primary waterways, is set to be funded by the private sector.
The 500-meter embankment behind the Manila Central Post Office will serve as a demonstration area, showcasing to potential investors how the government can create a walkway with commercial spaces spanning the capital region, according to Jose Rizalino Acuzar, Secretary of the Department of Human Settlements and Urban Development (DHSUD).
No government funds were used for this... The First Lady is soliciting donations. That's why the construction is swift because this is a donation; it did not go through bidding," he informed reporters.
Above, there will be a commercial bike lane and pedestrian walkway; below, commercial spaces. That property has real estate value. That will be the funding source for its construction," he stated, emphasizing that the donations may be viewed as investments.
We need to devise mechanisms to advance our economy if the government is facing challenges," he added.
The promenade will stretch 25 kilometers on each side of the Pasig River, disclosed the DHSUD chief.
The concept is to connect Manila Bay and Laguna de Bay... This is not just beautification; it's functional. It can be used as a walkway, bike lane, and even for scooters and electric scooters," he explained.
The completion is expected within three years, but it can be walked on within two years," he added.
The project is anticipated to displace between 5,000 and 10,000 informal settler families, according to Acuzar. Relocation areas will be established in Rizal and the Port Area in Manila, funded by the private sector.
We will be constructing almost 60,000 housing units there. The clearing is underway to commence the project, he stated.
The entire Pasig River promenade will lead to a 150-hectare park in Rizal province, potentially named "Marcos Park," Acuzar said.
This project will connect to a Central Park in Rizal, almost 150 hectares that we are planning to develop into a central park," he explained.
Marcos Park, as a replacement for Luneta... It might become Marcos Park because he initiated its construction," he added.
Acuzar did not disclose how much of the P18 billion has been donated, noting that most of the funds are still pledges.
In July 2023, Marcos Jr. signed Executive Order No. 35, instructing 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 led the formation of an inter-agency group to create a master plan for the development, as per the DHSUD.
The government envisions the Pasig River playing a significant role in economic development activities in the metropolis, similar to other waterways in major cities worldwide, the agency said.
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