Transforming the 750-hectare of Manila Bay’s coastline into a globally competitive mixed-use infrastructure project is the main thrust of the renegotiated agreement between PEA and the Cyber Bay Corporation (Cyber Bay).
Strategically located southwest of Manila along Emilio Aguinaldo Boulevard, the Cyber Bay City otherwise known as the Freedom Islands is bordered by the economically active municipalities of Paranaque and Las Pinas and the province of Cavite.
The project’s multifaceted development is expected to go on full swing with the entire property cleared of illegal occupants. Cyber Bay has successfully transferred hundreds of families to a safer and self-contained community through voluntary relocation under the Housing Cash Assistance Program.
To serve as the anchor development in the Cyber Bay City is the Golf Residential Community District, which will feature a championship 18-hole golf course, designed by the internationally-renowned Robert Trent, Jr. It will also provide other sports facilities such as tennis and sports club as well as a community center.
The City ensures residents’ satisfaction with the assured security and convenience of living in the City’s residential community. Within the district are open parks, schools and neighborhood retail, all within the five-minute walk from any home.
Multi-storey residential towers will complement the upscale residential living in other urban areas. To be constructed at the southern portion of the Marina district, it will surely capture the beauty of living in front of waterfalls.
The Supreme Court in its Resolution dated 11 November 2003 voided with finality the Joint Venture Agreement between PEA-Amari for the reclamation/development of some 750 hectares for the Cyber Bay Project to be located along the shorelines of Paranaque and Las Pinas. While the vote was even at 7-7 with one abstention, the Second Motion for Reconsideration filed by PEA and Amari was therefore denied for failure to gain a majority vote to overturn the earlier unanimous decision of the Supreme Court. The Supreme Court likewise resolved that no further pleadings shall be allowed from the parties.
Amari on December 10, 2003, filed a Motion for Leave to Admit praying to reconsider and set aside the Decision or, in the alternative, that the Honorable Court not declare the AJVA null and void in its entirety. Likewise, the OSG for and in behalf of PEA prepared a Motion for Leave of this Honorable Court to File Motion for Clarification which Motion for Clarification prayed for a clarificatory resolution addressing the concerns raised in said motion. The Supreme Court has denied both motions with finality and has ordered entry of judgment.
PEA’s account with Amari includes the P 300 million initial reimbursement of cost paid by Amari and the P 292 million advances for relocation expenses at Three Islands and Central Business Park I-A. The accounts are subject to adjustments upon verification/validation and audit of the documents.
Management plans to pursue the project to complete the configuration and road network of the Bay City based on the Integrated Framework Plan. A new plan will be prepared by PRA. Prospective investors are the National Development Corporation, PAGCOR and the Local Government Units.