By Richmond S. Mercurio (The
Philippine Star) | Updated September 10, 2015 - 12:00am
MANILA, Philippines - State-owned
Bases Conversion and Development Authority (BCDA) is teaming up with UK-based
firm M Health Ltd. (MHL) for the development of a 160-hectare health project in
Clark Green City.
In a statement, BCDA president and
chief executive officer Arnel Paciano Casanova said the state-run agency inked
an agreement with MHL to assure a healthy living environment and
self-sufficient community in Clark Green City.
Under the memorandum of understanding,
Casanova said MHL is tasked to conduct a pre-investment feasibility study,
business plan and conceptual plan for the 160-hectare area within a period of
12 months, extendable for another 12 months.
“MHL has the expertise, capabilities
and commitment to cooperate with BCDA to jointly undertake the development of a
160-hectare healthy living community that offers a sustainable and
self-sufficient community that has a balanced residential, commercial, and
leisure facilities, as well as one that acknowledges that social health is the
foundation for physical well-being,” Casanova said.
BCDA will assign development and
leasehold rights to MHL for 50 years, renewable for another 50 years.
The partnership will also establish a
framework that will serve as guide for the incorporation of a joint venture
company with BCDA holding a 45 percent stake and MHL a majority 55 percent
share.
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“Clark Green City is an exciting
development for us as it is the city of the 22nd century. This memorandum of
understanding is an important first step and the beginning of journey,” MHL
chief executive officer Simon Lovegrove said.
MHL is involved in managing healthcare
projects and services and has already delivered 150 healthcare projects over
the past 30 years in more than 50 countries including the British Virgin
Islands, Malaysia, Indonesia and Central Europe.
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