Prime Infra, DENR ink reforestation pact

THe Prime infra-led WawaJVCo i nc. and the d e partment of environment and natural r e sources ( denr ) signed a landmark deal for the reforestation of some 1,800-hectare area within the Upper Marikina r i ver Basin Protected l a ndscape (UM r BPl) t h e partnership, which was sealed through a Memorandum of Understanding (MOU), is in line with the vision and mission of denr and the e nvironmental, s oc ial, and Governance ( e s G) framework of Prime i n fra.

WawaJVCo is the developer and operator of the Wawa Bulk Water supply Project in r i zal province designed to deliver a reliable water supply of at least 518 million liters per day (M l d) to Manila Water and the Metropolitan Waterworks and s e werage sy stem.

“We’re very glad for this new effort on the part of the public and private sector to address the very complexity that we are facing in terms of risks for the country. t he private sector is among the leading engines of growth for the country, and we would like very much to continue exploring this type of multi-stakeholder partnerships to move the agenda of the de partment forward,” e nvironment s e cretary

Maria Antonia yu lo- l o yzaga said in a statement.

“We’re very grateful that some of our work in terms of keeping our forests whole and generating new forests will be part of the work of this group as well. t h ank you very much, Mr. r a zon, and to the group. We hope that this will be the first of many other endeavors together.”

“ t h is MOU for environmental stewardship between government and private sector reflects the commitment of both parties to develop and implement science-based strategies in support of sustainable development,” said e n rique K. r a zon Jr., Prime i n fra and WawaJVCo Chairman. “We thank the denr for making it possible for us to contribute to environmental protection and biodiversity management.” l o yzaga and r a zon signed the MOU on February 20 with WawaJVCo President Melvin John ta n and e nvironment Undersecretary Jonas l e ones as witnesses.

Also present during the ceremonial signing were i ndependent d i rector Cesar Buenaventura and Chief r e gulatory Officer d onato Almeda of Manila Water, WawaJVCo’s customer; denr Undersecretary for Field Operations— l u- in commercial leasing, revenues accelerated by 62 percent year-onyear to P33.4 billion with normalized mall rents and foot traffic, the contribution of new office spaces and higher hotel room rates.

City, Amaia’s sk ies Cubao tower 3 in Quezon City and Alveo’s Astela towers in Circuit Makati. Ayala l a nd launched 10 residential developments worth P31.8 billion in the fourth quarter of 2022, bringing the consolidated value to P91.4 billion for 30 projects by yearend.

Property development revenues reached P81.2 billion, a 7 percent growth from 2021. Commercial lot sales led the segment’s advance as revenues surged by 75 percent to P14.5 billion on investor demand for Arca south, nuvali and Broadfield estates.

With the resurgence in foot traffic and mobility, shopping centers and hotel revenues doubled to P16.1 billion and P6.2 billion, respectively. revenues from office leasing grew by 13 percent to P11.1 billion with the added contribution from One Ayala east and West towers.

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