Manila’s urban renewal program gets help

Driven primarily by his Buhayin ang Maynila Urban Renewal Program, Mayor Lito Atienza is well on his way to realizing his dream of restoring 433-year-old Manila from a city of faded glory and lost prestige, to the country’s premier metropolis at the forefront of development.

The Baywalk project along Roxas Boulevard, whose physical development immediately attracted from all walks of life to the once neglected area, is today considered by many as the program’s thriving symbol of success – a program gone not unnoticed by investors, big and small alike. As elsewhere in the city, positive changes can be seen in Rizal Avenue, Plaza Miranda, Quiapo, and Paco all after having undergone major facelifts as part of the development component of the renewal program, proofs that Atienza’s belief in development promoting economic growth is well-founded.

"Development will mean a better economy for that particular area. Employment, additional livelihood, additional income and all other components of development are automatically enjoyed by the communities and by the city. Where development is introduced, the economy improves," the local chief executive explains his own theory of growth.

Commerce has been revitalized in these places where establishments have noted better business and we are now in better positions to contribute more to the city’s coffers. With these and other business and tax initiatives, the program has caused rising revenues for the city since 1998 from 2.7 billion to almost seven billion this year, figures from the city hall show.

Atienza, now on his third term, has found new partners in Manila Jockey Club Inc. (MJCI) and Ayala Land, Inc.’s (ALI) wholly-owned subsidiaries Community Innovations Inc. (CII) and Laguna Property Holdings Inc. (LPHI) to share this vision of development with. The partners will soon develop a 6.47-hectare property in Manila, this time in the Sta. Cruz on where the San Lazaro race track once stood.

Manila’s czar does not expect to be able to effect positive change alone as he relies on his likemindded partners. "The government is only able to do so much. The private sector must support government initiative, and development is the key factor that links the two," Atienza says.

MJCI president Alfonso Reyno Jr. shares this view and believes that the joint venture signifacantly supports the objectives of the city’s urban renewal program. "The active participation of well-recognized and respected institutions opens the gateway for others investors to identify Manila as the new investment site. This bold move will definitely have a positive effect on the program," he says.

The development will be the first-of-its-kind in Manila, and the local government does not hide its enthusiasm for the project. "Ayala Land has an excellent reputation in development, and now that it is entering the picture in Manila and joining us in our efforts development, it is most encouraging and at the same time, inspiring for a lot of other developers to take notice," Atienza enthuses.

"Manila is now the center of attention for many developers, both Filipino and foreign. I’m sure that Ayala Land’s decision to enter Manila is a factor in all this. Ayala Land has become a catalyst in Manila, and I’m happy about it," he adds.

ALI on its part is grateful to the mayor for this alliance. "We are excited and thankful that we have been given the opportunity to take part in the city’s development thrust, while at the same time catering to the needs of the market for a community – the likes of which can be seen in existing ALI developments in Makati, Alabang, and Laguna – that future residents can be truly proud of," its president Jaime Ayala says.

LPHI president Dinna Bayangos explains why the Ayala group has decided to make this investment move in Manila.

"The fruits of the mayor’s program have sparked renewed interest in Manila as a leisure and recreation destination. With urban planning in place, investors are assured that Manila has a blueprint for development and growth which they can capitalize on," she says.