The National Development Co. (NDC) has allocated an additional P140 million in funding for the P3-billion expansion of the World Trade Center (WTC) Metro Manila property in Pasay City.
In a statement on Tuesday, NDC said it released an additional equity investment of P140 million to Manila Exposition Complex, Inc. (MECI), the company that owns and operates WTC Metro Manila.
The expansion of WTC Metro Manila aims to increase its total capacity to 20,000 square meters by 2028, with a significant portion of the funds going towards expanding the exhibition hall and building a parking facility.
About P2.6 billion will be allocated to expand the exhibition hall, while P400 million will be used for the construction of a parking building.
The additional funding was disbursed to MECI on June 29, and the expansion is expected to maintain an external space of around 7,000 square meters for outdoor set-ups.
WTC Metro Manila has a strong track record of hosting major trade shows, conferences, and industry events, and its location near government offices, corporate headquarters, and international transit hubs provides a unique advantage.
The venue is also a member of the global association of trade show organizations and exhibition center operators, the Union des Foires Internationales, and is part of an international network of over 300 World Trade Centers.
The NDC has a 36% share in MECI and is authorized to undertake vital projects, such as this expansion, when necessary or when the private sector cannot undertake them due to high risks or lack of resources.
