By Revin Mikhael D. Ochave | BusinessWorld
March 23, 2023
THE Bases Conversion and Development Authority (BCDA) said it has signed an agreement with the Japan International Cooperation Agency (JICA), which will provide technical assistance in developing sites along the subway and North-South Rail lines.
In a statement on Thursday, the BCDA said it signed the technical cooperation agreement for developing transit-oriented developments (TODs) in the Bonifacio area. The project will serve as a prototype for sustainable mixed-use communities with train access, raising the potential of the two railway projects crossing BCDA property in Metro Manila.
The railway projects are the P500-billion Metro Manila Subway project (MMSP) and the P800-billion North-South Commuter Railway.
BCDA President and Chief Executive Officer Aileen R. Zosa and JICA Philippines Chief Representative Takema Sakamoto signed the Record of Discussions on March 21 for the TOD project.
The locations to be developed include four MMSP stations: Bonifacio Global City near the site of Market! Market!, the proposed Senate-Department of Education station, and the Kalayaan Avenue and Lawton Avenue stops.
Ms. Zosa said the TODs will help lower the Philippines’ carbon footprint, provide a more efficient link between major mass transit systems and feeder systems, and create more sustainable communities.
Meanwhile, Mr. Sakamoto said the TODs would support sustainable urban development in Metro Manila.
“This TOD will pave the way to further create business opportunities in and around railway stations. Consequently, the TOD can enhance the attractiveness of the Philippines to potential investors,” Mr. Sakamoto said.
The project for capacity development for TODs will run for three years from the start of activities. The BCDA and JICA will form a joint committee for project monitoring. — Revin Mikhael D. Ochave