P135 million Iloilo City to Guimaras Ferry Terminal Project a go

There is no stopping the development of the Iloilo City to Guimaras Ferry Terminal Project with the latest public-private partnership entered into by the city government. Mayor Jed Patrick E. Mabilog and DoubleDragon Properties Corp. president Ferdinand Sia signed the joint venture agreement for the P135 million project on Monday, Oct. 1 at the City Hall. More after the jump.

It will be undertaken by DoubleDragon Properties Corp., formerly Injap Land Corporation owned by the Sias.

“This will turn the Parola Ferry Terminal from Iloilo City to Guimaras province into a world-class facility, further boosting the tourism industry here,” Mabilog said.

“We are doing this to support the dream of our mayor. We have also grown up here, and we’d like progress to be brought into the city,” the younger brother of Ilonggo tycoon Edgar “Injap” Sia said.

The project includes state of the art ferry terminal building, People’s Plaza commercial retail mall, pump boats fuel refilling station and a fully landscaped 1.3 hectare complex.

“The city is not spending a single centavo for the project, but it will have a share from the revenues and taxes which will be placed in our General Fund,” Mabilog stressed.

DoubleDragon will put up the entire structure and operate it in the next 25 years with option to renew, he added.

Site development and construction to last 10 months will start immediately after the issuance of notice to proceed this week.

Together with Mabilog and Sia during the signing were Atty. Lito Barrera, corporate legal manager of DoubleDragon Properties Corp. and city administrator Norlito Bautista.

Atty. Marla Tirol, counsel of DoubleDragon Properties Corp., city legal officer Atty. Jose Junio Jacela, and city planning and development officer Jose Roni Peñalosa stood as witnesses.