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Firms renew interest in Clark Green City lot

By Louella D. Desiderio (The Philippine Star) | Updated June 11, 2015 - 12:00am

MANILA, Philippines - Sixteen firms have expressed interest in the development of the 288-hectare lot in Clark Green City by attending yesterday’s pre-bid conference.

BCDA president and chief executive officer Arnel Paciano Casanova told reporters the  firms present at the pre-bid conference and interested to vie as BCDA partner were Ayala Land, Inc.; Century Properties, Inc.;  Daichi Properties, Inc.; ESCA Inc.; Federal Land, Inc.; Filinvest Land, Inc.; First Philippine Industrial Park; Hitachi Asia;

Jones Lang LaSalle, Inc.; Megaworld Corp.; MGS Construction, Inc.; MTD Phils. Inc.; Nuevo Centro Inc.; ProdigyAE, Inc.; Rockwell Land Corp.; and SUDECO.

“We are optimistic more firms will buy the TOR (Terms of Reference),” Casanova said, noting Filinvest and Megaworld have bought the documents for the previous auction.

He said the agency is also confident the firms would proceed in submitting their respective bids with their queries addressed during the pre-bid conference.

The BCDA is set to conduct a second bidding to find a partner for the development of the 288-hectare lot in the 9,450-hectare Clark Green City within the Clark Special Economic Zone in the province of Tarlac, Philippines.

The Clark Green City is envisioned to be the country’s first smart, green and disaster-resilient metropolis.

The BCDA said the partner firm should be  a well-established corporation with proven track record in the development, marketing, management and leasing of large property mixed-use development.

The partnership would be in the form of a Joint Venture Corporation (JVC), with 45 percent owned by BCDA and the rest by the winning bidder.

The JVC would have  full development and usufructuary rights over the 288-hectare property, which could be converted to full land ownership if and when the law so allows in the future, subject to mutual agreement of the two parties.

The Joint Venture Agreement (JVA) would be for a period of 50 years and renewable for another 50 years.

The minimum acceptable bid is set at P160 million or approximately $3.6 million.

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 this new auction, the deadline of submission of bids is on July 3.

Casanova said the BCDA intends to sign the JVA for the property on September 14. – Richmond Mercurio

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