The planned Bagong Nayong Pilipino-Entertainment will be built as its name suggests and will have an integrated resort, restaurants, theme parks, malls, casinos, and other entertainment facilities. The public-private partnership (PPP) project is valued at P1.58 billion and will cover 120 hectares of reclaimed land at the Manila Bay in Parañaque.
Mayor Edwin Olivarez of Parañaque is pushing for the realization of the Bagong Nayon and four other projects by the National Economic and Development Authority (NEDA) under the incoming administration. City administrator Ding Soriano claimed that Paranaque is becoming one of the biggest tourist destinations in the entire Asia-Pacific region. The local government believes that the PPP projects will be vital in boosting tourism, generating extra revenue, and creating more jobs in the country.
The approval of the president, who chairs the NEDA board, will be the last obstacle before the projects can be opened to public bidding. The five PPP projects estimatedly cost around P100 billion all in all.
Aside from the Bagong Nayon, the local government of Paranaque has also pushed for a proposed $13 billion international airport in Central Manila Bay.
