MANILA, Philippines - The Metropolitan Manila Development Authority (MMDA) on Monday proposed the creation of the Escolta Redevelopment Administration to help revive the area as a transport, tourism, business, and culinary heritage hub and to assist the city government of Manila.
The idea came about after the reopening of the Escolta ferry station, which made it more accessible to the public.
During the first two weeks of operation of the Pasig River Ferry System, Escolta was the most popular destination of passengers, and even tourists, going to Binondo (Chinatown) and Divisoria.
"This proposal is aimed to remember Escolta not just as a historical footnote but as part of the continuing Philippine economic progress," MMDA chairman Francis Tolentino said.
Escolta is one of the oldest streets in Asia and is known to be the country’s first business capital and home to the oldest shops and boutiques selling imported goods from China and Europe.
The street was lined with several fine examples of European architecture in the Philippines, rivaling famous European capitals such as Brussels in Belgium and Madrid in Spain.
Tolentino is proposing a body similar to the Intramuros Administration which was created by law to manage the restoration, reconstruction, and urban planning of the walled city which was already declared as historical heritage area.
He said he is willing to draft a bill seeking for the creation of such body to be endorsed to appropriate congressional proponents.