Artist rendition of Ming-Mori Reclamation project of Cebu Landmasters Inc. (CLI) | Photo courtesy of CLI
CEBU CITY, Philippines – The reclamation project in Minglanilla town in south Cebu is a go.
Real estate developer Cebu Landmasters Inc. (CLI), in a recent filing made before the Philippine Stock Exchange (PSE), announced that the Philippine Reclamation Authority (PRA) has issued a Notice to Proceed (NTP) for its proposal to create a 100-hectare reclamation project there.
“In its Resolution 5389 series of 2021, the PRA Board of Directors unanimously approved the NTP, which will pave the way for the creation of a techno-business hub in Minglanilla with a fully integrated port facility,” portions of the filing stated.
CLI also reported that bidding and awarding of contracts to contractors and suppliers is expected to begin during the last quarter of this year.
“Actual reclamation is targeted by 1st half and 2nd half (of) 2022,” they added.
Called the Minglanilla Techno-Business Park or the Ming-Mori, the reclamation project costs around P20 billion. It will be undertaken by CLI subsidiary Ming-Mori Development Corporation.
The reclaimed area is designed to host and integrate commercial, industrial, civic and recreational components. Proponents hoped the multi-million project will be able to generate 75,000 jobs.
Ming-Mori is the third largest township project by CLI. The others are located in the cities of Davao and Cagayan de Oro in Mindanao.
/bmjo
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