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AGI preparing to build train line to Uptown Bonifacio

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PHILSTAR

ALLIANCE Global Group Inc (AGI) said that it is preparing for the construction of its proposed sky train, while awaiting a Swiss challenge in either April or May.

“The project is now with NEDA (National Economic and Development Authority). We are hoping to do the Swiss challenge by around April or May but we are already preparing the ground work,” AGI Chief Executive Officer Kevin Andrew L. Tan told reporters.

“We are preparing the bidding and of course we are now in coordination with various local government agencies so we hope we can start construction by fourth quarter this year, and we hope to finish by third quarter of 2021,” Mr. Tan added.

The P3.5 billion project will link Metro Rail Transit Line 3’s Guadalupe Station to Megaworld’s Uptown Bonifacio township in Taguig City, cutting travel time to five minutes for up to 100,000 commuters per day.

Mr. Tan said the company is bullish on infrastructure and real estate development, saying growth is expected for these sectors this year until the following year.

“We’re very positive. We continue to expand. We’re going to be launching three townships this year,” Mr. Tan said, without disclosing the exact locations, though he noted that one will be in Metro Manila.




“We are committed in expanding all our businesses. We are expanding our BPOs, our hotels, residential. Fundamentally, I think all these businesses have high potential for growth this year and all the way next year,” Mr. Tan said.

Megaworld is the property arm of AGI.

On Friday, AGI closed at P14.28, up 2.29%. — Reicelene Joy N. Ignacio

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