Aboitiz to develop Boracay’s Wetland #4 into urban park
Excerpt
The Aboitiz Group, through its social development arm Aboitiz Foundation, has adopted and will rehabilitate Boracay Island’s Wetland #4 into a “linear urban park”. The company announced yesterday that it recently signed a memorandum of agreement (MOA) with the Department of Environment and Natural Resources (DENR) for the project, which will start this year and targeted for completion in three years. Under the MOA, Aboitiz Foundation will be rehabilitating the one-hectare lagoon located in Barangay Balabag under the guidance of DENR and the Boracay Inter-Agency Task Force. The urban park will be an eco-tourism and educational site, with a cistern under the park’s plaza to serve as a catch basin to mitigate flooding.
Citation
Mogato, A. G. A. (2018, August 14). Aboitiz to develop Boracay’s Wetland #4 into urban park. BusinessWorld, p. S1/10.
Associated content
Online versionSubject
Wetlands; Wetland restoration; Environmental restoration; Environmental protection; Agreements; Governments; Ecotourism; Department of Environment and Natural Resources (DENR); Aboitiz Equity Ventures Inc. (AEV); Aboitiz Group; Boracay Inter-Agency Task Force (BIATF); Aboitiz, Sabin M.; Cimatu, Roy A.
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- BusinessWorld [652]
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