Alliance Global may be interested in New Nayong Pilipino project

The group of business tycoon Andrew L. Tan on Friday said it will look into the government's planned New Nayong Pilipino Project.

"We have not heard much about that, but if there is an opportunity we would be interested to take a look at it," Megaworld Senior Vice President for Commercial Division Kevin Andrew L. Tan told reporters on the sidelines of the Prosperity for All Summit in Pasay City.

The P1.47-billion New Nayong Pilipino at Entertainment City Project is listed as a public-private partnership (PPP) initiative.

Alliance Global Group Inc. (AGI) is the holding company of business tycoon Andrew L. Tan. Its subsidiaries include Emperador Inc., Megaworld Corporation, Travellers International Hotel Group Inc. and Golden Arches Development Corporation

According to the PPP Center, the New Nayong Pilipino is "envisioned to be a top-of-mind destination for foreign and local tourists who want to experience our culture."

As a build-transfer-operate-and-maintain (BTOM) project, the New Nayong Pilipino entails 23-year cooperation arrangement that includes a three-year construction phase.

The private partner will build, design, operate and maintain a cultural theme park in a 9.5-hectare lot at Entertainment City in Parañaque City.

Megaworld has a township in Entertainment City, called Westside City – a 31-hectare development targeted to be completed in 2020.

Tan noted the group has not yet looked into the specifics New Nayong Pilipino. "We have not yet done any study in that yet, or anything, but it is something that could be of interest," he said. — VDS, GMA News