(Picture of the new Senate building and the land opposite it. Photo by Dek Terante)
Engineer Joshua Bingcang, Senior Vice President for the Conversion and Development Group of the BCDA, stated that the location holds significant value as it could also accommodate a Metro Manila Subway station, to be known as the Senate-Department of Education Station.
At present, the land is being occupied by the Philippine Navy.
"We will publish the terms. But the proposal we received suggests that the investment should at least be P30 billion," stated Bingcang. "This is very prime. But it is currently occupied by the Navy. So, we will clear out the navy first," he added.
Last year, BCDA and the Department of National Defense (DND) commenced construction on a nine-story residential building to relocate personnel of the Philippine Navy. It is expected to be completed next year.
