The city of Manila has long been country’s crown jewel, but time hasn’t been kind to the nation’s capital. Issues arising from unemployment, poverty, and congestion has been plaguing the city, but the incumbent mayor, Joseph Ejercito Estrada, sets to leave a legacy in the form of a new residential and business district off the shore of Manila through reclaimed land.
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Estrada has approved the construction of at least four major reclamation projects in Manila Bay namely: UAA Kimming Group Development Corp., 407 hectares; Waterfront Manila Premier Development, Inc., 318 hectares; Manila Harbour Center, 50 hectares; and the largest, Horizon Manila, 419 hectares. The combination of these projects is aimed to build a new city that will have a total land area of 1,200 hectares right in the middle of the bay.
Of the four projects, the 419-hectare Horizon Manila currently has complete plans and paperwork. Being the biggest, it’s the city’s centerpiece and legacy project.
Construction company Jbros Construction Corp. is set to take on the project and has completed all the necessary approvals and permits. All it has to do left is secure an area clearance, so the government can grant Horizon Manila the notice to proceed (NTP), and Jbros can break ground within three months.
According to Jbros Construction Corp. president Jesusito “JR” Legaspi, Jr., once the reclamation begins, investors will start coming in. Inquiries have already been received from potential investors from China and South Korea.
Reclamation Is Expected to Resolve Issues
With this project’s massive job potential, it can help solve Manila’s unemployment problem. Among all the cities in the capital region, Manila has the highest incidence of poverty and unemployment. It is also the densest city in the world, causing congestion and horrendous traffic. After this project is complete, Manila will finally regain its title as the best central business district in the capital region.
Mayor Estrada has estimated that the four reclamation projects will create at least 500,000 in new jobs, generate P17 billion in tax revenues, and P10 billion in taxes from real estate properties. By now, those estimates are grossly downplayed since they were based on the selling price of P300,000 per square meter of reclaimed land. But the current going rate for reclaimed business and commercial land along the bay has hit P800,000 per square meter, which is the price Horizon City predicts in 2023.
The First Cryptocurrency Hub in Asia
The whole project aims to build an advanced metropolis separated into three islands, which would be a combination of business, residential, and entertainment areas divided into three districts namely: Gateway District, Entertainment District, and Sunset District.
The massive infrastructure program will interconnect the islands via bridges and elevated monorails, while two main viaducts will connect the districts to Manila and Makati, with each costing around P7 billion to build. The design is of these viaducts will rival to that of the Golden Gate Bridge in San Francisco and the Brooklyn Bridge in New York.
Expect to see high-rise condos and office buildings, state-of-the-art public transport terminals, environment-friendly establishments, and amusement parks among other advanced structures. The whole project will feature a smart city that connects all the services on the islands. The project takes one more step towards the future by adopting cryptocurrency as a mode of payment.
The power of blockchain is set to run the trade infrastructure on the reclaimed islands, turning it into a hub for crypto enthusiasts. Visitors will be able to use Noah Coins as part of the Noah Project and enjoy discount options for using the digital currency across all parts of the city.
Noah Coin is going to be the medium of exchange in the project’s economic ecosystem. You can purchase consumer items, pay for transportation fares, and use the digital currency for entertainment purposes. Foreign visitors who hold tokens will enjoy spending their Noah Coins in the biggest business district in the country.
The use of Noah Coins as a trading instrument in this massive infrastructure project presents various opportunities for cryptocurrency to grow in the country. This kind of activity has the potential to boost the economy, as crypto enthusiasts from different countries visit the islands just to experience how it works on a large scale.
Ready to get started? Download a Noah Coin-compatible app today!