BCDA puts Clark City lots on auction block

Screengrab from bcda.gov.ph

State-run Bases Conversion and Development Authority (BCDA) has started the bidding process for the Phase 1 development of the 9,450-hectare Clark Green City in Pampanga, which is envisioned to become the country’s first “smart, green and disaster-resilient” metropolis.

In a notice, the BCDA said it would bid out contracts covering the long-term lease and development of five lots with a total area of 1,250 hectares.

Of these five lots, two lots measuring 300 ha (Lot 1) and 200 ha (Lot 2) will be dedicated for industrial use, while the remaining three lots, measuring 200 ha (Lot 3), 400 ha (Lot 4), and 50 ha (Lot 5) will be for mixed-use development.

The term of the lease is 50 years, renewable for another 25 years.

Interested local and foreign real estate developers, industrial park builders and institutional developers have until  Sept. 19 to submit their expressions of interest for the long-term lease and development of the lots within Clark Green City, located at the heart of Central Luzon.

Even 100-percent foreign-owned companies can submit offers as these areas are within the Clark Special Economic Zone.

According to BCDA, prospective investors, developers and locators would benefit from various incentives such as a

5-percent levy on gross income earned in lieu of all national and local taxes and duties; and tax and duty free importation of raw materials and capital equipment.