If you think the Parañaque City government has a better chance of implementing a proposed billion peso reclamation project than Pasay City, think again.
The Wenceslao Group is staking its claim over the 300-hectare reclamation project, which is now subject to competitive bidding by the Parañaque City government.
R1 Consortium, headed the Wenceslao Group, said in a statement over the weekend it had informed the local government of Parañaque that group had prior rights over the reclamation project based on the contract it signed with the national government through Philippine Estates Authority, now called Philippine Reclamation Authority.
R1 Consoritum said apart from its contract to reclaim the land at zero cost to the government, the PEA could not allow any reclamation works in the area without the company’s prior written consent.
“Considering our track record and technical expertise in land reclamation, we are willing and ready to exercise our right to reclaim further and would like to work with all parties involved subject to the approval of the Philippine Reclamation Authority, National Economic and Development Authority and other requisite government agencies,” R1 Consortium said.
But Parañaque City, which announced in August that it had accepted the proposal of the group of retail tycoon Henry Sy to undertake the reclamation project for P54.5 billion, is moving forward with the reclamation project.
Parañaque City last week received strong interests from Ayala Land Inc and GT Capital Holdings Inc. of tycoon George Ty to participate in the bidding for the planned reclamation project.