MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) is planning to bid out development rights for three parcels of land covering at least 200 hectares each in the Clark Green City this year.
BCDA president and chief executive officer Arnel Paciano Casanova said the agency is ready to start the bidding for some parts of the Clark Green City after naming AECOM as the winner of the design competition for the township’s conceptual master development plan.
The Clark Green City which covers over 9,000 hectares located within the Clark Special Economic Zone in Pampanga and Tarlac, is intended to be developed into the country’s first green and smart metropolis and as an ideal investment destination.
The first phase of the development will cover 1,300 hectares, to be sub-divided into several plots of land covering 200 to 300 hectares each, to allow many parties to participate in the project.
Casanova said the plan is to enter into a joint venture with one developer for each parcel of land, with 55 percent to be accounted for by the private firm while the minority stake to be taken by the BCDA under a 99-year agreement.
“As a policy, BCDA will always take a minority stake. We will be there to nurture partner, take on political risks associated to the project and give freehand to the private sector to push the development forward,” he said.
The first of the three parcels of land to be offered this year, will be rolled out within the month.
Casanova said the BCDA is set to present the terms of reference for the first parcel located in the municipality of Capas in Tarlac, to its board for approval on Feb. 18, and upon securing the green light, publish such the following day.
The first parcel is intended to be developed into a mixed use property.
“We are opening it to everyone, the first 200 to 300 hectares. Whether you’re a local or international investor, you can bid on the first parcel,” Casanova said.
The BCDA is also currently in discussions with four foreign multinationals involved in industrial estate development and mixed use development which have expressed interest to develop parts of the Clark Green City, Casanova said.
He declined to name the foreign firms but noted that they have a presence in Asia, US, and Europe.
Aside from the four foreign firms, the BCDA has earlier entered into a memorandum of understanding with Al Ahli Holding Group, a conglomerate from the United Arab Emirates, to come up with a final memorandum of agreement covering the development of tourism-related projects in the Clark Green City.
Casanova said several local property developers have also written to the BCDA expressing interest to participate in the project.
The Clark Green City is expected to attract several firms given major infrastructure developments in the area such as the upgrade of the Clark Airport as well as the integration of tollways Subic-Clark-Tarlac Expressway, North Luzon Expressway and Tarlac-Pangasinan-La Union Expressway.
Created by RA 7227, the BCDA is mandated to transform former US military bases into alternative productive civilian use.