Billionaire Manny B. Villar Jr. is expanding his company’s business portfolio with two ventures in Cavite.
The Villar-led Prime Asset Ventures Inc. last August 9 signed the implementing agreements for the purchase of the Muntinlupa-Cavite Expressway (MCX) from the Ayala Corporation, which is pegged at P3.8 billion.
“This momentous event shows our resolve to provide our countrymen better services in the area of roads and toll ways. You’ll be surprised of the many wonderful things to come in Villar City,” Villar said.
“Ayala developed MCX over a decade ago to connect Metro Manila to Imus, Dasmarinas and Bacoor in Cavite, which were experiencing rapid growth. MCX succeeded in relieving traffic congestion and reducing the travel time between Metro Manila and Cavite. The sale of MCX represents another example of our recycling capital to benefit from opportunities in our core and emerging businesses,” Ayala Corporation President & CEO Cezar Consing, for his part, said.
Interestingly, it came only a day after the inauguration of “Villar Avenue,” a 6.2-kilometer road that will serve as the main artery of the tycoon’s flagship endeavor “Villar City.”
Envisioned to become Metro Manila’s “new center of gravity,” Villar City is a 3,500-hectare central urban area project that will traverse 15 cities in the capital region and Cavite.
The route of the 10-lane avenue starts at the juncture of The Crossing Cafe and Dear Joe along Daang Hari Road, ultimately reaching UTown which connects to the University District of Dasmariñas City.
“The opening of Villar Road is an important milestone for us as this signifies our strong commitment to help spur progress in more areas in the South,” said Villar.
It is expected to make travel from Las Piñas to portions of Bacoor and Dasmariñas in Cavite shorter and more convenient for motorists.
Thumbnail photo made via Canva