Landmark Public-Private Partnership for Local Government Unit of Valenzuela
The much-awaited groundbreaking of the Valenzuela East Medical and Wellness Center was proudly attended by the project stakeholders in Manila, on February 20th, 2019. This ambitious project, which was born out of a strategic partnership between private proponent Premiere 101 Healthcare Inc. and the Municipal Government of Valenzuela, is one of the largest Public-Private Partnership (PPP) projects in the municipality to date.
The purpose of the long-term PPP arrangement between the Municipal Government of Valenzuela and Premier 101 Healthcare Management Inc., entered into to undertake the design, financing, construction and operation of Valenzuela City’s state-of-the-art, multi-specialty healthcare and wellness center, is to improve the quality of life of the residents of Valenzuela and the adjacent provinces. The project includes the Valenzuela City Lifestyle Park, and a community lifestyle and wellness center, in addition to the Valenzuela City Medical and Wellness Center and its ancillary healthcare centers. Premiere101 Healthcare Inc. and the Valenzuela Municipality will jointly conduct day-to-day operations for no fewer than 25 years.
Along with Mayor Rex Gatchalian, Senator Win Gatchalian and Congressman Mike Fermino, MPG Chairman Luca Bernardinetti was on site to formerly break ground, marking the official commencement of the project. As one of the keynote speakers, Mr. Bernardinetti reaffirmed MPG’s role as the project’s Mandated Transaction Advisor and reiterated the firm’s continued commitment to facilitating PPPs throughout the ASEAN region. For their part, the project stakeholders confirmed their participation in the 2019 edition of MPG’s ASEAN PPP Summit, in Bangkok, on April 4th. Mayor Gatchalian renewed his enthusiasm and commitment to pursuing ever more PPP arrangements in the interest of Valenzuela by highlighting diverse project finance opportunities for MPG in his municipality.
In the photographs (left to right): Premier 101 and MPG executives; MPG Chairman addressing the members of congress, municipality and constituents of Valenzuela; City Mayor of Valenzuela delivering the closing remarks.