MANILA, Philippines – Century Properties Group Inc. recently signed a memorandum of agreement with the Department of Environment and Natural Resources (DENR) for the creation of a multi-partite monitoring team (MMT) to safeguard the environment in its Commonwealth by Century project in Quezon City.
Prim Nolido, project director for Century Properties, and Vizminda Osorio, regional director for the DENR Environmental Management Bureau-National Capital Region, signed the agreement establishing the MMT that will oversee the implementation of guidelines set in the environmental compliance certificate (ECC) issued by the DENR to Century Properties.
The MMT will be composed of authorized representatives from the DENR, Century Properties, the Environmental Protection and Waste Management Department of Quezon City, the Laguna Lake Development Authority, and Barangay Batasan Hills.
Osorio said the ECC is a “planning tool” that will help Century Properties think of ways to safeguard the environment.
For its part, Century Properties expressed a firm commitment in observing the guidelines set by the ECC.
“We are committed to protecting the environment and following the regulations set in the ECC. We look forward to work with the DENR and other stakeholders in this multi-management team to make sure that the project is compliant with all the regulations set by the DENR,” Nolido said.
Apart from the creation of the MMT, the MOA will also see the establishment of an environmental guarantee fund, a trust fund that will be managed by a committee composed of MMT officials with the DENR-EMB regional director as its chairperson.
Likewise, an environmental monitoring fund will be established to support the activities set out by the MMT.
“We want this to be a landmark project and we look forward to more developments in Quezon City,” Nolido said.
Commonwealth by Century is Century Properties’ first residential project in Quezon City.
The 4.4-hectare master-planned community is also the company’s first foray into the affordable segment. It will have eight towers with 2,300 residential units.
Source: The Philippine Star | January 17, 2014