The City Government of Cagayan de Oro is currently in talks with the main proponent of the planned 500-hectare Macajalar Bay reclamation project. This was revealed by Cagayan de Oro City Reclamation Authority co-chair City Councilor Edgar Cabanlas during the online program ” Ang Inyong Konseho Karon”. Councilor Cabanlas said when the project is finally realized, it will definitely alter the urban landscape of the city.
Councilor Cabanlas further stated that private developers can help fast-track the implementation of reclamation projects. ‘Under the reclamation sharing scheme stipulated in the law, 49 percent of the reclaimed land will go to the private developer while 51 percent will be shared by the national government through the Philippine Reclamation Authority and the city government. The PRA will issue titles to the reclaimed land to the city government.
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