Top property, gaming firms interested in New Nayong Pilipino PPP
MANILA, Philippines – Some of the country's leading real estate, gaming, and construction companies have set their sights on a P1.47-billion ($32.75 million) deal to build, design, operate, and maintain a cultural theme park in a 9.5-hectare lot at Entertainment City in Parañaque City.
Dubbed as the New Nayong Pilipino, this will be the 2nd public-private partnership (PPP) project to be rolled out under the administration of President Rodrigo Duterte.
More than 14 large companies were present during the project's investors' conference held in Makati City on Thursday, February 9. (READ: PH's PPP thrust: Work in progress)
Among them are AC Infrastructure Holdings Corporation, Ayala Land Incorporated, DM Consunji Incorporated, DM Wenceslao and Associates Incorporated, Filinvest Development Corporation, JG Summit Holdings Incorporated, LafargeHolcim Limited, and Macquarie group.
Representatives of Megawide Construction Corporation, Megaworld Corporation, Okada Manila, Robinsons Land Corporation, SM Prime Holdings Incorporated, and Travellers International Hotel Group Incorporated were also present at the conference.
"We are happy with the turnout of the interested [bidders]. This is a good project. The first one under the Tourism department. We hope there will be more than just this. We are all excited about this," PPP Center Executive Director Ferdinand Pecson said on the sidelines of the conference.
The Department of Tourism (DOT) and Nayong Pilipino Foundation (NPF) – the implementing agencies – are set to publish an invitation to bid next month.
"The project's structure is build-transfer-operate-and-maintain (BTOM) with 23 years cooperation period, inclusive of 3-year construction period," Pecson said.
The cultural theme park PPP project is "envisioned to be the top-of-mind destination for foreign and local tourists who want to experience our culture," he said.
According to Pecson, the PPP Center targets bid submission for December of this year, with construction completion set for October 2021.
It was in November last year when the New Nayong Pilipino PPP project was approved under the PPP scheme by the National Economic and Development Authority (NEDA) Board led by Duterte.
Nayong Pilipino was originally conceived as a tourism facility to promote Philippine culture and heritage. The park along MIA Road in Pasay City became known for its miniature versions of various landmarks interspersed with the country’s cultural dances.
The New Nayong Pilipino will be "a highly interactive and immersive experience of historic and contemporary Philippine culture and heritage." – Rappler.com