Albert Gamboa l September 9, 2022 l The Manila Times
ENVIRONMENTAL impact and land valuation are two of the vital aspects in reclaiming land from the sea. Such projects are mostly found in coastal cities to create new land for housing, commercial and industrial purposes. In some cases, land reclamation leads to a decrease of natural wetlands and the decline of biodiversity.
Thus, the Department of Environment and Natural Resources mandates the proponents of reclamation projects to apply for area clearance with the Environmental Management Bureau (EMB). Among the requirements are the environmental impact study and the environmental compliance certificate to ensure optimum economic development of reclaimed lands.
The Philippine Reclamation Authority (PRA) is an attached agency under the Office of the President. It was created in 1977 by Presidential Decree 1084 to serve as the clearinghouse for all reclamation projects in the country. Formerly known as the Public Estates Authority, the PRA performs both regulatory and proprietary functions, including the determination of land valuation.
Recently, the agency came under fire for greenlighting the Manila Waterfront City Reclamation Project in spite of a pending court case.
The 318-hectare project is a public-private partnership between the City Government of Manila and the Waterfront Manila Premier Development Inc. When completed, its location will be at the back of the Quirino Grandstand in Rizal Park right next to the US Embassy and up to the breakwater of the Manila South Harbor.
This joint venture was signed in 2017 when former president Joseph Estrada was the mayor of Manila and lawyer Edward Serapio was the secretary to the mayor. In fact, Serapio is listed as the authorized representative of the project proponent in the EMB’s website.
What seems incredible is the project’s total cost amounting to only P34.3 billion that translates to a measly P10,800 per square meter — way, way below market prices in the Manila Bay Area.
Incumbent Manila Mayor Maria Sheilah “Honey” Lacuna-Pangan must have the property valuation reviewed to make sure that the city government is not short-changed in this deal. The original proponents have to explain the math involved in coming up with such a grossly undervalued amount to the disadvantage of tax-paying Manileños.
Manila’s local government unit should take the cue from the 200-year experience of Singapore in land reclamation. Way back in 1822, the British colonizers dismantled a hill and packed the material along the bank of the Singapore River.
Today, this is known as Boat Quay, the site of the city-state’s very first reclamation project which has been transformed into a dining and entertainment district. Just beside it is Raffles Place, the spot where the hill was broken down and carted off to build Boat Quay. It is now the high-rise financial district where I used to work in the 1990s.
Other areas of Singapore that sit on earth where there was once only water include the iconic Marina Bay Sands, the industrial hub of Jurong Island and most of Changi Airport’s four terminals.
Since it became an independent nation 57 years ago, Singapore has grown in land area by 25 percent from 359 to 444 square kilometers. By 2030, the government wants the island-republic to measure almost 480 square kilometers through more land reclamation projects.
Over three decades as prime minister, Lee Kuan Yew (LKY) viewed his country as perpetually locked in a struggle against its small size.
He once said: “In a world where the big fish eat small fish and the small fish eat shrimps, Singapore must become a poisonous shrimp.” Our own leaders should read LKY’s book titled From Third World to First: The Singapore Story 1965-2000 and emulate his style of governance.
*** The author is the chief finance officer of Asian Center for Legal Excellence and chairman of the Finex Media Affairs Committee. The opinion expressed herein does not necessarily reflect the views of these institutions and The Manila Times. #FinexPhils www.finex.org.ph.