YES, this is what Pasay City-SM reclamation deal actually boils down to once the project is approved by the Philippine Reclamation Authority (PRA). It will resurrect the notorious PEA-Amari deal. Only this time, it is the Pasay City government that is the major player and main proponent instead of the PRA.

Portrayed as a public-private partnership (PPP) project of the Pasay City local government, the deal calls for SM to undertake and finance the reclamation of 360 hectares of Manila Bay and, in exchange, the mall and property giant will get 49 percent or 176.4 hectares of the reclaimed land, while Pasay City will end up with the remaining 51 percent or 183.6 hectares.

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