By Iris Gonzales (The
Philippine Star) | Updated January 29, 2016 - 12:00am
MANILA, Philippines – The
Clark Development Corp. has issued a notice of award to the Filinvest Group for
the lease, development, and management of the former Mimosa Leisure Estate in
Pampanga.
The consortium of Filinvest
Development Corp. and subsidiary Filinvest Land, the lone bidder, bagged
the right to lease the 201.64-hectare
estate for a period of 50 years. The contract is renewable for another 25
years.
It submitted a financial
bid of P800 million, the minimum acceptable bid.
“We are very bullish about
the Clark area and the prospects of Clark as an international airport hub given
the growth in this tourism corridor and the congestion experienced in Metro
Manila airports,” said FDC president Josephine Gotianun-Yap.
Gotianun-Yap said the
estate would be developed through a joint venture company with the consortium
and CDC owning 95 percent and five percent, respectively.
Located in Clark Freeport
Zone, the former Mimosa estate includes an operating hotel with 303 rooms and
34 villas under the Holiday Inn brand as well as a 36-hole golf course.
FDC has over 1,300 rooms in
its portfolio under ownership, management and construction.
Among its portfolio of
hotels are the Crimson Resort and Hotel in Mactan, Cebu and the Crimson Hotel
in Alabang.
Also under construction is
the Crimson Resort and Hotel in Boracay.
In Cebu, FDC manages the
Quest Hotel, a development of FLI.
The group currently has
1,027 rooms in the planning stage in various areas around the country.
Gotianun-Yap said the
Filinvest group brings its expertise in large-scale real estate development to
the table, as it has been responsible for the development of both the
244-hectare Filinvest City in Alabang, Muntinlupa and the 70-hectare City di
Mare at the South Road Properties in Cebu City, both as joint ventures with the
government.
“Together, FDC and FLI bring more than five
decades of experience to manage and develop the former Mimosa property,” she
said.
Earlier this month, FLI
signed a joint venture agreement with the Bases Conversion Development
Authority for the development of the
288-hectare section of Clark Green City.
“We are excited about this addition to our
footprint in Northern Luzon. Our interest in this area is a reflection of our
confidence in the growth prospects of the Clark Special Economic Zone,”
Gotianun-Yap said.
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