10920 - Eastwood City Cyberpark

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Environmental Review Summary

Project Number

10920

Company Name

Eastwood Cyber One Corporation

Date ERS Disclosed

Jan 8, 2002

Country

Philippines

Region

East Asia and the Pacific

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Mar 26, 2002
Signed : May 27, 2002
Invested : Oct 25, 2002

Sector

Construction and Real Estate

Industry

other

Department

Gbl Ind, Manufact, Agribus & Services

Project Description

Eastwood City Cyberpark, established in late 1999, is an urban economic zone for information technology (IT)-driven companies, a development of Megaworld Corporation. The project is a US$52.9 million expansion of Eastwood that is currently managed as a division of Megaworld. Megaworld plans to spin off Eastwood as a separate company by the end of 2001.

The project is part of a 15 ha development strategically located in Metro Manila, near the Ortigas business district and three leading Philippine universities. It is envisaged to be a mixed-use facility incorporating office and commercial developments and an IT school building. The development of Eastwood will be divided into three main blocks: (i) the corporate block; (ii) the leisure and entertainment block; and (iii) the IT school building. The corporate block will have six buildings: Citibank Square, IBM Plaza, the Incubation Center, Techno Plaza One, Techno Plaza Two and Cyber One. Of the expansion project, approximately 40% has already been completed.

Environmental and Social

The sponsor has presented plans to address these impacts to ensure that the proposed project will, upon implementation of the specific measures agreed, comply with applicable host country laws and regulations and World Bank/IFC requirements. The information about how these potential impacts will be addressed by the project is summarized in the paragraphs that follow.

The project site is on land formerly occupied by a textile mill. Surrounding land use ranges from factories, office buildlings, and commercial establishments to some residential areas. Traffic flow is designed to minimize impact on surrounding streets. The development as a whole and the individual buildings on the site have received the required zoning permission and building permits. During construction, the company must follow terms specified in the Environmental Compliance Certificates, issued by the Philippine Department of Environment and Natural Resources, governing management of construction impacts. Potential construction impacts will be managed in accordance with national standards for erosion and sediment control, noise emissions, worker health and safety, and related construction impacts. Construction management will be audited by the sponsor to assure compliance with local requirements.

The company has a centralized wastewater treatment plant that treats effluent from all buildings that are part of the project. The company will treat its effluent to meet World Bank Group guidelines which are more stringent than local requirements. The buildings are equipped with diesel generators, used primarily for the backup power supply. The generators will be properly maintained to ensure efficient combustion and low emissions during periods when they are run. All diesel fuel tanks will be above ground and will have appropriate secondary containment.

The design documents for this development show that all buildings were designed to acceptable international fire and life safety codes and standards, and, accordingly, will be protected throughout by automatic sprinkler systems where required. All the necessary fire safety permits and certificates have been issued for existing buildings and such certification is required for future structures. The plans and specifications have been prepared by a qualified professional acceptable to IFC, and cover fire analysis and prevention; means of egress; detection and alarm systems; compartmentation; fire suppression and control; and emergency response plan; however the company itself will need to obtain recommendations for operation and maintenance. During operations, a qualified professional acceptable to IFC will be appointed to handle all fire safety matters, such as regular inspections, training of emergency organization, maintenance of fire protection systems, regular external audits, and implementation of corrective action plans following these audits.

The company will develop criteria for occupancy, which will ensure the consistency of future tenants'' businesses with the overall tenor of the information technology park, the maintenance of reputable business practices and the avoidance of activities on the IFC Exclusion List.

Conclusion & Monitoring

IFC will evaluate the project''s compliance with the applicable environmental and social requirements during the lifetime of the project by reviewing the annual monitoring reports (AMRs) prepared for the project covering ongoing performance of project-specific environmental, health and safety and social activities as reflected in the results of periodic and quantitative sampling and measuring programs. Periodic site supervision visits will also be conducted.

This Environmental Review Summary (ERS) is prepared and distributed in advance of the IFC Board of Directors' consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board of Director’s decision. Any documentation that is attached to this ERS has been prepared by the project sponsor or in conjunction with the project sponsor and authorization has been given for public release. IFC has reviewed this documentation and considers that it is of adequate quality to be released to the public but does not endorse the content. The following ERS is disclosed in accordance with IFC's Disclosure of Information Policy that went into effect September 1998.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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