THE Malaysia-based Mercury Group Pvt Ltd, the proponent of the proposed P25-billion 200-hectare land reclamation, mixed-use property project in Isla Verde, Barangay 23-C in Quezon Boulevard, Davao City, has not yet complied with all requirements so it can submit its technical report to the Public-Private Partnership Board–Davao.
Marilou W. Ampuan, Mindanao Islamic Chamber of Commerce Inc. executive secretary and co-founder, the local partner of the Malaysian investors, told reporters in Tuesday’s Davao Business Forum in Dermpath, SM City Davao that they already presented the chronological background of the company during the first PPP Board–Davao meeting last December 2016, the first meeting of the board under Davao City Mayor Sara “Inday” Duterte administration.
The board’s first meeting last year, she said, tackled various new projects in the city.
“We have yet to secure the official proponent status for this project. We target to present the technical aspect of the study on the second board meeting set this February but we still have a lot of things to secure, the requirements needed are quite many and require a longer period of preparation,” she said.
Ampuan said the project is considered a priority of the City Government.
“The Malaysian investors are very keen and upbeat about Davao City (as an investment hub),” she said.
The project, Ampuan said, has tourism, commercial and residential components.