A Memorandum of Understanding has been signed approving the multibillion-peso reclamation project in Manila Bay which will see a new international cruise terminal.
It has been touted as the biggest and most technologically advanced in the city and will serve as the new commercial and tourism hub of the capital.
The MOU was signed by the Philippine Reclamation Authority and the UAA Kinming Group Development Corp earlier this week and Manila Mayor Joseph “Erap” Estrada said the development will bring the city a step close to regain its old title of Asia’s ‘Pearl of the Orient’.
UAA Kinming has proposed to put up the New Manila Bay International Community, a 407.42 hectare mixed-used commercial and tourism centre in the central area of Manila Bay.
The ‘city within a city’ will house new developments, businesses as well as tourism and entertainment facilities including the international cruise terminal.
The move to build an international cruise terminal is a sign that the Philippines is pushing to increase marine tourism.
Earlier this year, the Philippines announced its first homeported ship in the port of Manila – Star Cruises unveiled it would be homeporting the SuperStar Virgo.
The country has a new cruise strategy to build dedicated cruise facilities, especially in Manila.
“We will soon see the expansion of Manila’s borders, and its capacity to host more business ventures which will drive Manila’s economy,” said Mr Estrada.
“This reclamation project will be a symbol of our mission and vision of creating a city that is prepared for a future of economic prosperity and social equity.”