Real estate giant eyes Clark Green City dev’t

By on March 17, 2015

Map of Clark, Pampanga / Wikipedia Photo
Map of Clark, Pampanga / Wikipedia Photo

MANILA — The Bases Conversion and Development Authority (BCDA) said that property developers have expressed interest in the lease and development of the 254-hectare property in Clark Green City.

The Clark Green City is a 9,450-hectare property within the Clark Special Economic Zone in the province of Tarlac.

Developers are eyeing to develop it as the first smart, green and disaster-resilient metropolis in the Philippines.

“There are two that have signified interest to buy the TOR within the week,” Nena Radoc, chair of the asset disposition program committee of the BCDA said in a telephone interview.

The statement was made following the pre-bid conference held yesterday. Radoc said that the BCDA is expecting to attract more firms in the bidding.

The winning bidder will have to infuse the corporation’s initial paid-up capital of P2.5 bilion.

They will also be required to agree to pay a minimum premium cash bid of P500 million at the signing of the joint development contract.

BCDA has given interested bidders until April 15 to purchase the TOR at the BCDA Corporate Center in Taguig City for a non-refundable fee of P500,000.