SBMA opens up prime areas for dev’t

SUBIC BAY FREEPORT – Government is undertaking a tender offer that would open up eight prime locations at the Subic Bay Freeport, earmarked for leisure, industrial, commercial and residential development.

The Subic Bay Metropolitan Authority (SBMA) announced that it was offering eight land properties to foreign and local investors to serve as development catalysts for strategic areas within the 67,000-hectare former military reservation.

SBMA chairman Felicito Payumo told reporters that the land disposition effort would complement the planned integration of the former US naval base and the former US Air Force base at Clark in Pampanga.

Payumo said two prime lots at the Subic Gateway are being offered for long-term lease for commercial development near the Tipo Expressway, the Freeport’s main access road to Metro Manila.

The lots, Payumo said, are envisioned as the location for a two-module type convention center for international and domestic conferences as well as a business hotel and residential facilities.

"There are hotel facilities in the freeport but there are no real convention facilities," Payumo said. "This is an untapped market that Subic is ideal for, considering the congestion in Metro Manila."

Payumo said the SBMA has also earmarked an area at the Freeport Central Area for development into a mini business park for light industries, small factories, infotech industries and so-called incubator industries.

Also in the central area, the SBMA chief said 1.2-hectare lot has been set aside for mixed use site and a strategically located 8,500-square meter lot was being offered for offices along Dewey Ave.

The most significant offer, according to Payumo, is the three-hectare area within the Freeport’s protected area that has been designated for development into what would be known as the Ilanin Bay Resorts.

One portion known as the Hidden Beach, Payumo said, was being offered for resort accommodations while another portion along the Camayan Wharf would be available for commercial establishments that would complement the resort such as cafes, shops, parking and clubs.

Across the bay, Payumo said the SBMA is offering a vast property at the Redondo Peninsula, formerly the site of the multi-billion dollar Malampaya Natural Gas Project.

The 40-hectare area, Payumo revealed, already had infrastructure on site, left by Shell Philippines Exploration B.V. following the completion of its concrete gravity structure known as the Malampaya platform.

These structures include a finger pier, a steel sheet pile retaining wall, a basin measuring 180 meters by 225 meters, existing flood and drainage canals, site perimeter fence, gates and access roads.

Payumo said the SBMA has packaged all eight properties for its tender offer and the terms of reference for the long term lease would be distributed to known property developers.

"We are taking a proactive approach and aggressive marketing instead of waiting for investors to show up at our doorstep," Payumo said. "We have received very favorable initial response and we are optimistic that this effort will attract the kind of investors we want."

Payumo said the tender offer would start next month.