MakatiMayor Abby Binay talks about the route of the planned Makati Subway project. —EARVIN PERIAS
The upcoming Makati subway system is set to link up with the Makati-Taguig skytrain to be built by the group of property tycoon Andrew Tan at the EDSA-Guadalupe area, where a common station will be built.
In a disclosure to the Philippine Stock Exchange on Friday, Philippine Infradev Holdings Inc. said Makati City Subway Inc. (MCSI) had accepted a term sheet from Megaworld Corp. for the creation of a joint venture company that would develop a common station for Makati subway system and the proposed Skytrain of Infracorp Development Inc., a related company of Megaworld.
Meanwhile, MCSI executed a separate construction agreement with China Construction First Group Corp. Limited (CCFG) for the construction of a transit-oriented development corresponding to another station in the Makati Subway System.
Infracorp seeks to connect Megaworld Uptown Bonifacio to the MRT Guadalupe station in Makati, using the automated cable-propelled monorail technology. The project was proposed to be built at no cost to the government.
An artist’s rendition of Infracorp’s proposed SkyTrain
The Makati subway project, on the other hand, is a partnership between a consortium led by IRC and the Makati city government.
“The common station of the two train systems shall have access and connection to the MRT Guadalupe Station and the Pasig River ferry system,” the Infradev disclosure said.
Infradev likewise signed a memorandum of agreement with the University of Makati (UMak) for the creation of a P20 million scholarship program.