Commission Decision No. 30-M-024/2019:
In the Matter of the Proposed Joint Venture between Pasay Harbor City Corporation and the City Government of Pasay
The City Government of Pasay, a highly urbanized city in Metro Manila, entered into a contractual Joint Venture Agreement (JVA) with Pasay Harbor City Corporation (Pasay Harbor City), a Special Purpose Corporation, to engage in land reclamation in the municipal waters of Pasay for an area covering 265 hectares.
The JVA was executed between the City Government of Pasay and Pasay Harbor City. The Parties intend to pursue the project with the City Government of Pasay contributing the rights to reclaim on its municipal waters, while Pasay Harbor City will fully finance all raw land reclamation works and expenses.
Pasay Harbor City Corporation is a partnership composed of Udenna Development Corp. (UDEVCO), Ulticon Builders, Inc. and China Harbour Engineering Company. It submitted its venture as an unsolicited proposal to develop a part of Manila Bay facing Pasay City waters.