Malaysia-based investment holding company MTD Capital Berhad has been given the original proponent status (OPS) for a P12.7-billion development of a portion of the highly anticipated New Clark City.
In a statement over the weekend, state-owned firm Bases Conversion and Development Authority (BCDA) said the Malaysian company had been tagged for the development of a 60-hectare portion of the National Government Administrative Center (NGAC) in New Clark City.
This, however, is smaller in terms of both scale and value than the unsolicited proposal the company submitted earlier this year for the same project. To recall, BCDA previously said the company proposed to establish the 207-hectare NGAC through a joint venture agreement and with an estimated cost of P121.8 billion.
With an original proponent status, however, MTD Capital Berhad would have the right to outbid the declared best proposal from the other challengers should the project be auctioned off under a Swiss challenge.
BCDA said the NGAC would house satellite offices of various government agencies including that of the Office of the President. Phase 1-A of the center is expected to be completed by the end of 2019.
BCDA’s most ambitious project to date, the New Clark City was previously named Clark Green City under the Aquino administration. It is a new metropolis that will rise within the Clark Special Economic Zone in Capas and Bamban, Tarlac.