By Louella D. Desiderio (The
Philippine Star) | Updated June 2, 2015 - 12:00am
MANILA, Philippines - The Bases
Conversion and Development Authority (BCDA) is inviting firms once again for
the development of the first lot to be offered in Clark Green City.
In an invitation published yesterday,
the BCDA is looking for local or foreign real estate developers interested to
be its partner in the development of a 288-hectare portion of the Clark Green
City.
The Clark Green City is a
9,450-hectare property within the Clark Special Economic Zone in the province
of Tarlac, intended to be developed as the country’s first smart, green and
disaster-resilient metropolis.
“BCDA is looking to partner with a
well-established corporation with proven track record in the development,
marketing, management and leasing of large property mixed-use development,” the
state-run firm said.
The partnership will be in the form of
a joint venture corporation, with 45 percent to be owned by the BCDA and the
rest accounted for by the winning bidder.
The joint venture agreement will have
a period of 50 years and renewable for another 50 years.
The minimum acceptable bid for the
joint venture agreement is set at P160 million, and the firm with the highest
offer will be declared the winning bidder.
In April, the BCDA offered for bidding
the development of the 254-hectare portion of Clark Green City under a joint
venture.
As the property failed to attract bids
during the auction, the BCDA decided to revise the terms of the bidding by
widening the size of the lot offered, reducing the minimum bid price from P500
million, and dropping the earlier condition which required the winning bidder
to infuse P2.5 billion as initial paid up capital.
For the new bidding, interested firms
may purchase the Terms of Reference (TOR) at the BCDA Corporate Center in
Bonifacio Global City in Taguig City until July 1, for a non-refundable fee of
P500,000.
The TOR may also be viewed at the
BCDA’s website. “Interested proponents who have bought the TOR during the first
bidding are no longer required to purchase the TOR to participate in this
bidding,” the BCDA said.
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