BCDA seeks partner for Clark project

MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) is inviting firms interested to take part in the development of a 254-hectare portion of the Clark Green City.

“The BCDA invites local or foreign real estate developers to be BCDA’s partner in the development of a 254-hectare portion of the Clark Green City,” the agency said in a published invitation yesterday.

The Clark Green City, which is a 9,450-hectare property within the Clark Special Economic Zone in the province of Tarlac, is being developed to be the country’s first smart, green and disaster-resilient metropolis.

The BCDA said the partnership for the development of the 254-hectare portion of the Clark Green City would be in the form of a joint venture corporation, with 55 percent to be owned by the winning bidder and the rest to be held by the agency.

The winning bidder needs to infuse the total initial paid-up capital of the corporation amounting to P2.5 billion.

Interested bidders should have a proven track record in the development, marketing, management as well as lease of large property mixed-use development.

These firms should agree to pay a minimum premium of P500 million upon the signing of the agreement in addition to the initial capital of the joint venture corporation.

The terms of reference (TOR) for the bidding can be purchased by interested firms at the BCDA Corporate Center in Taguig City starting Feb. 26 until April 15, for a non-refundable fee of P200,000.

The TOR may also be viewed at the BCDA website starting Feb. 26.

The pre-bid conference to discuss the property and TOR is scheduled on March 16, at the BCDA Corporate Center.

BCDA president and chief executive officer Arnel Paciano Casanova told reporters earlier the agency intends to bid out the development rights of three parcels of land covering about 200 to 300 hectares each in the Clark Green City this year.

As the BCDA is tendering the development rights of three parcels of land in the Clark Green City, he said the agency is also in discussions with four foreign multinational firms involved in industrial estate development and mixed used development in Asia, US and Europe, interested to participate in the project.

Aside from the four foreign firms, the BCDA had entered into a memorandum of understanding with Al Ahli Holding Group, a conglomerate from the United Arab Emirates in January, to come up with a final memorandum of agreement covering the development of tourism-related projects in the Clark Green City.

The BCDA, which was created by Republic Act 7227, is mandated to transform former US military bases into alternative productive civilian use.