Project Title & Location
PRE-FEASIBILITY STUDY FOR THE DEVELOPMENT OF THE
OLD BILIBID COMPOUND
Sta. Cruz, Manila
PUBLIC ESTATES AUTHORITY
7/F Legaspi Towers 200, Paseo de Roxas, Makati City, Metro Manila
Cuervo Appraisers, Inc.
ECT Consulting Engineers
Fabergas, Calida and Remollo Law Office
Strategies & Alliances Corporation
Integrated Development Alternatives
Transportas Consulting, Inc.
- Pe-feasibility investigation
- Intial environmental examination
- Socio-economic review, and market analysis
- Urban design and transport study
- Financial planning
The Old Bilibid Compound is a six-hectare property of the Philippine government located in the heart of Central Manila. It is now in severe state of blight. A large community of squatters occupies a portion of the property.
On instruction from the Office of the President to plan for the development of the compound, Public Estates Authority commissioned Planning Resources and Operations Systems, Inc (PROS) to undertake a Pre-Feasibility Study for the Master Development of the compound. The urban revitalization of the area is intended to catalyze a series of institutional and commercial developments within the property. A total of 12 hectares consisting of the Bilibid Compound, Central Market, the Fabella Hospital and the Lerma Triangle were included in the study.
The studies covered the initial environmental examination, socio-economic review, transport planning, market analysis, urban design, the financial plan and a report on legal impediments. The Urban Design Plan and Financial Study form the heart of the undertaking.
The Urban Design Plan takes into consideration all the environmental, socio-economic, developmental and institutional factors that must be satisfied in any well-conceived design. The overall plan is made responsive to market demands.
The Financial Plan provides the funding strategy of the project through an asset-backed securitization process. Government's role is to deliver the site free of impediments. For the initial phase, a mezzanine fund of P1Billion is raised.