MANILA - The Yuchengco-led House of Investments on Monday said it and other members of the Sangley Point airport consortium have signed a joint venture deal with the Provincial Government of Cavite.

The agreement was signed on Feb. 6, the company said in a disclosure to the stock exchange.

"In compliance with the disclosure requirements of the Commission, our Company hereby informs the SEC that the House of Investments, Inc. together with the consortium members for the Sangley Point International Airport project signed the Joint Venture and Development Agreement with the Provincial Government of Cavite on February 6, 2023," the company said.

In September 2022, the Cavite LGU announced it had awarded the $11 billion Sangley Point International Airport project to the SPIA consortium.

Other members of the consortium include Cavitex Holdings Inc, Samsung C&T Corp with MacroAsia Corp, Munich Airport International GmbH and Ove Arup & Partners Hong Kong Ltd.

According to the Cavite LGU, Phase 1 of the project includes the first runway which is expected to be operational by 2028. The airport is projected to generate some 50,000 jobs as well as spur economic activities in the area.

The SPIA project was originally awarded to a consortium that included China Communications Construction Co (CCCC) in 2019, but it was later on canceled by the Cavite LGU.

• Multinational consortium bags $11 billion Sangley Point International Airport Project
• Lucio Tan's MacroAsia says 'invited' in consortium for Sangley Airport project

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