Tuesday, May 06, 2008 Big players vie for 3 Freeport prime lands
CLARK FREEPORT ZONE -- Prominent real property developers and investors, both local and foreign, have shown keen interest in developing three prime state-owned lands inside the freeport, an official of the Clark Development Corp. (CDC) revealed last Monday.
The big investors are from China, Japan, Korea and the United States, including the top property developers in the Philippines.
CDC assistant vice president for investment promotions Bernie Angeles identified the properties up for public bidding within the sprawling Clark Freeport Zone as the 60-hectare T60, the Mimosa Golf and Leisure Resort Estate, and T309.
Minimum investments required for T60 is placed at P1 billion, while that of Mimosa is P1.4 billion. No figure is yet available for T309.
The CDC board has decided to submit the development of these properties to public bidding to get the most advantageous terms for the country, ruling out any negotiated contract. Three pre-bid conferences are set within the week.
Angeles said at least 17 "prospective investors have responded in the prequalification bidding process."
He pointed out that the shortlist of bidders consisted of industry leaders in the field of property development, upscale housing, golf operations and resort and hotel business.
"This shows that the CDC has attracted major industry players here and abroad whose investments would definitely speed up the transformation of certain non-productive areas within the Clark ecozone into viable business concerns and further enhance the Mimosa Estate to world class standards," Angeles noted.
The names of the bidders would be released later pending final evaluation of their credentials.
The CDC intends to lease out the T60 for a period of 50 years "under mutually acceptable terms and conditions." As envisioned, the 60-hectare property would be converted into a bustling tourism, high-end residential and recreational destination.
Located along C.M. Recto Avenue and adjacent to the Fontana Convention Center and the Mimosa Golf Course, T60 is suitable for hotel, resort, casino, retirement villas and other tourism-oriented business concerns.
There are 39 single detached houses in the area. Angeles said these could either be rehabilitated or demolished by the investor to give way for new structures.
