By Richmond S. Mercurio (The
Philippine Star) | Updated September 9, 2015 - 12:00am
MANILA, Philippines - Filinvest Land
Inc. (FLI) of the Gotianun family has bagged the deal to develop the initial
288-hectare lot in Clark Green City along with state-owned Bases Conversion and
Development Authority (BCDA).
BCDA said yesterday FLI was declared
the winner as it was the lone proponent that submitted a valid bid in the
amount of P160 million.
The terms of reference for the auction
of the lot required minimum acceptable bid of P160 million.
Other property giants Ayala Land Inc.
and Megaworld Corp. earlier secured bid documents for the selection of BCDA’s
joint venture partner in the development of the 288- hectare lot.
“We are excited to move forward with
our new joint venture partner and start building what will be known as the
country’s first-ever smart, green and disaster-resilient metropolis that is
expected to significantly improve the lives of our countrymen,” BCDA president
and CEO Arnel Paciano Casanova said.
Casanova said FLI as BCDA’s partner
would play a significant role in accelerating the development of Clark Green
City.
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“We are happy to have Filinvest to be
a partner because this will bring the strengths of BCDA as the developer of the
Bonifacio Global City, and Filinvest as the developer of the 244-hectare
Filinvest City in Alabang and recently the newest Cebu business district—a
P5-billion business process outsourcing (BPO) complex called Filinvest
Cyberzone Cebu,” he said.
Clark Green City is envisioned to
become the most modern metropolis and a center of economic development in the
country.
The partnership between BCDA and FLI
is set to be in the form of a joint venture corporation to be owned 45 percent
by the state-run agency and 55 percent by the Gotianun-led firm.
The joint venture agreement has a term
of 50 years, renewable for another 50 years.
“The joint venture corporation shall
have the full development and usufructuary rights over the 288-hectare
property,” BCDA said.
Casanova said the usufructuary right
would 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 BCDA said it is now building the
main access roads leading to Clark Green City together with the Department of
Public Works and Highways.
In April this year, the BCDA offered
for bidding the development of the 254-hectare portion of Clark Green City
under a joint venture.
The BCDA decided to revise the terms
as the property failed to attract bids during the auction.
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