BCDA seeks partner to develop part of Clark Green City

ABS-CBN News

Posted at Mar 03 2015 01:07 PM | Updated as of Mar 03 2015 09:09 PM

MANILA – The Bases Conversion Development Authority (BCDA) is looking for a local or foreign partner to develop a portion of Clark Green City, which is envisioned to be the country's first smart, green and disaster-resilient metropolis.

BCDA said the partner will help in developing a portion that is similar to the size of Bonifacio Global City.

“We are inviting both local and foreign real estate developers to be BCDA’s partner in the development of a 254-hectare portion of the Clark Green City,” said BCDA president Arnel Paciano Casanova .

The Clark Green City is a 9,450-hectare master planned property within the Clark Special Economic Zone in the province of Tarlac, Philippines.

The partnership will be in the form of a joint-venture (JV) corporation to be owned 45 percent by the BCDA and 55 percent by the winning bidder.

The winning bidder will infuse the total initial paid-up capital of the corporation in the amount of P2.5 billion.

Casanova said the BCDA is looking to tap a partner with a well-established corporation with proven track record in the development, marketing, management and leasing of large property mixed-use development.

He said this is not the first time that the BCDA has entered into a joint-venture corporation in the development of a similar sized property, citing the development of the Bonifacio Global City.

“The BCDA and Bonifacio Land Corporation have forged a joint-venture corporation called Fort Bonifacio Development Corporation (FBDC) that has successfully developed the 240-hectare Bonifacio Global City,” Casanova said.

Bonifacio Land Corporation is composed of a consortium of Ayala Land Inc. (ALI) and Evergreen Holdings Inc. of the Campos Group.

BCDA Asset Disposition Program (ADP) Committee chairperson Nena Radoc, meanwhile, said interested bidders should meet all the eligibility requirements set by the BCDA and agree to pay a minimum premium cash bid of P500 million at the time of signing of the joint development contract, on top of the P2.5 billion initial capital.

The eligible bidder which offers the highest premium cash bid will be declared the winning bidder, subject to post-qualification.

Radoc said interested bidders may purchase the Terms of Reference (TOR) for the subject bidding at the BCDA Corporate Center, 2/F Bonifacio Technology Center, 31st Street corner 2nd Avenue, Bonifacio Global City, Taguig City, Metro Manila, from February 26 to April 15, 2015 for a non-refundable fee of P500,000, payable to BCDA in manager’s check.

The TOR may be at the BCDA website at www.bcda.gov.ph starting on February 26, 2015.

A pre-bid conference will also be held on March 16, 2015, 10 a.m. at the BCDA Corporate Center.