3 real estate giants, holding firm form consortium for Php123.8-B PPP Lakeshore project bid

By Leslie D. Venzon

MANILA, Feb. 27 (PNA) — Three real estate giants and a holding firm of the Philippines have formed a consortium to bid for the Php123.8-billion Laguna Lakeshore Expressway and Dike Project (LLEDP), the biggest public-private partnership (PPP) project of the Aquino administration.

In a disclosure to the Philippine Stock Exchange, Aboitiz Equity Ventures, Inc. (AEV) and real estate giants Ayala Land Inc. (ALI), Megaworld Corporation (MEG) and SM Prime Holdings, Inc. (SMPH) formed Trident Infrastructure and Development Corporation (TIDC) in an effort to evaluate the feasibility of the project with the view of submitting a competitive bid proposal and pre-qualify for the LLEDP.

The project includes the construction of a 47-kilometer expressway and a 45-kilometer flood control dike, and the reclamation of around 700 hectares of land in the western part of Laguna Lake.

Dubbed as “Team Trident”, the consortium’s four members will each have an effective equal share of 25 percent. It combines the infrastructure expertise of the Aboitiz and Ayala groups as well as the reclamation and land development experience of Aboitiz, Ayala Land, Megaworld and SM.

The consortium also benefits from the combined financial muscle and the national and international network of experts that the four companies have, which will be able to benefit millions of Filipinos and thousands of businesses along the western shore of Laguna de Bay.

“Trident brings together the expertise, experience, financial strength, and network that is needed to successfully execute a project the size and scale of LLEDP,” Megaworld told the local bourse. (PNA)