P1.28-B NEDA property project moves forward

The P1.28-billion National Economic Development Authority (NEDA) sa Makati Property Redevelopment Project has moved forward after it tapped a consulting firm for its feasibility study.

In a statement, NEDA and the Public-Private Partnership (PPP) Center tapped consulting firm Sycip, Gorres, Velayo & Co. (SGV & Co.) for the NEDA sa Makati Property Redevelopment Project through the Project Development and Monitoring Facility (PDMF).

The PDMF contract covers the project preparation and transaction advisory services for the conduct of the feasibility study, project structuring, preparation of bid documents, management of the bid process, and assistance until financial close.

The NEDA sa Makati Property Redevelopment Project involves the construction, operation, and maintenance of a new green design building for the NEDA property in Makati.

It aims to address the space requirements of the NEDA-Central Office in Pasig and its attached agencies through the provision of office space and support facilities.

This is for regular business operations, space allocations for conferences, seminars, training and meeting rooms, and spaces for lease for both private sector and government agencies alike.

The project is expected to increase efficiency and economy in government operations.

It will also result in better coordination among NEDA and its attached agencies as their offices are located in one building.

Considering the challenges in providing a safe working environment due to the pandemic, the project aims to redevelop the property to optimize its value.

This will be done by tapping private sector efficiency and innovation in designing, building and maintaining a mixed-used area suitable for work and other uses which will serve as a venue for efficient provision of public service.

The PDMF is a revolving fund that supports pre-feasibility studies, feasibility studies, and other necessary pre-investment activities to help develop bankable PPP projects, as well as assistance in the PPP bidding process and for effective monitoring of PPP project implementation.

The PDMF provides government agencies with the required expertise and strategies to prepare well-structured projects that are selected to be undertaken as PPPs.