MANILA, Philippines – The Solar City reclamation project will save the city of Manila, which is in debt and has one of the highest unemployment rates in the country, city officials said yesterday.
“Right now, the study shows that Manila has the most number of jobless people. A hungry stomach knows no law. Through this we can provide employment and (thus) eliminate crime,” Estrada said.
The project’s developer, Manila Gold Coast Development Corp., said Solar City – which will span 148 hectares in the middle of Manila Bay – will feature a park and a Boracay-inspired man-made beach as well as a terminal for international cruise ships.
Manila Gold Coast said the project would be able to provide 100,000 jobs during its construction and another 500,000 when it is operational.
The developer said the project would provide the national government with P17 billion in tax revenues yearly and some P10 billion worth of real estate taxes for the local government.
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“This is one way of answering the fiscal situation of the city. Mayor Erap (Estrada) was left with a city that has an outstanding debt of P3.5 billion … Manila is about to be bankrupt. We have to offer Manilans better things. If not, we will continue to deteriorate,” Moreno said.