Makati Mayor Abby Binay on Tuesday signed a historic joint venture agreement with Philippine Infradev Holdings, Inc. (formerly IRC Properties, Inc.) for the city’s first subway project.

The $3.5-billion Makati City Subway, to be known as MkTr, would connect key points such as the current Central Business District along Ayala Avenue, Makati City Hall, Poblacion Heritage Site, University of Makati, Ospital ng Makati and the other new business districts within the city.

The proposed intracity subway will have air-conditioned underground island stations that can accommodate up to six car trains, with room for over 200 persons per car.

More than 700,000 passengers per day are expected to be accommodated by the mass transport system.

Links to other mass transport systems such as the Metro Rail Transit (MRT), Pasig River ferry, and the JICA-funded Metro Manila Subway are also being worked out.

Binay earlier said that Makati will only contribute its land, which will be used in the subway system, with no cash out from the government.

The subway is part of Binay’s vision to make Makati the country’s first digital city.

By Marjaleen Ramos