Metro Manila (CNN Philippines, August 16) — Real estate titan Manny Villar Jr. is targeting to further expand his business empire with a plan to take charge of the LRT-1 Cavite extension.
A week after his group bared the completion of its acquisition of the Muntinlupa Cavite Expressway from Ayala, the billionaire has also started setting his sights on his entry into the railway market.
Villar said negotiations between the Ayala-Pangilinan consortium, which operates the LRT-1, already began.
“Medyo nagne-negotiate na kami… Ayaw na nila e. Sabi ko nga mahal ‘yan. Matagal ‘yan kasi di sayo ang lupa,” he told members of the press during a chat on Tuesday night.
[Translation: We’re already negotiating… They don’t like to pursue it anymore. I said that’s expensive. It would take long since the land is not yours.]
“Nakita namin na mas kikita kami pag nagsama kami. Dadami ang traffic galing sa kanila, dadami rin traffic nila galing samin. Sila nagpropose na magpartner kasi kulang ang profitability nila, kung magkakabit-kabit kami mas viable,” he added.
[Translation: We saw that we would be more profitable if we worked together. Traffic from them will increase and traffic from us will also increase. They proposed to partner because their profitability is low, if we come together it will be more viable.]
The project is designed to extend the train system to Bacoor, Cavite. However, Villar said the consortium may only finish the construction until Sucat in Parañaque City.
The tycoon said he seeks to push for the extension with seven more stations stretching from Zapote in Las Piñas to Governor’s Drive in Cavite. Linking it further to Silang, closer to Tagaytay, may also be put on the table, he noted.
He also showed confidence about pursuing the project given his massive landbank in the south of the capital region, which would soon house its ambitious Villar City.
“Ako, kaya ko ang right-of-way kasi sakin lahat ng dadaanan. Kailangan talaga ang real estate,” Villar said.
[Translation: I can settle the right-of-way because I own the land that will be passed by the route. Real estate is really needed.]
The former senator, however, did not disclose his planned investment in the railway project.
The proposal, Villar noted, was already with the Department of Transportation (DOTr). But this may still be revised once the deal with the other party materializes.
Sought for confirmation, Light Rail Manila Corporation—a joint venture company of Pangilinan’s Metro Pacific Investments Corporation and Ayala’s AC Infrastructure Holdings—was mum on the information.
DOTr Usec. Cesar Chavez, on the other hand, said he “[hasn’t] heard whether Villar Group has indeed submitted a proposal to LRMC for takeover of the Cavite segment of LRT1 Cavite Ext.”
