By Kris M. Crismundo
MANILA, Sept. 8 (PNA) — The state-owned Bases Conversion and Development Authority (BCDA) will be partnering with property developer giant Filinvest Land Inc. after the latter submitted a qualified bid for the first phase of Clark Green City (CGC) project in Central Luzon.
BCDA announced on Tuesday that Filinvest will be getting the 55-percent stake to develop a 288-hectare land in CGC.
Filinvest is the lone company that submitted a valid bid of PhP160 million for development premium payable upon signing of the contract, BCDA said.
“We are excited to move forward with our new joint-venture partner and start building what will be known as the country’s first-ever smart, green and disaster-resilient metropolis that is expected to significantly improve the lives of our countrymen,” BCDA President and CEO Arnel Paciano D. Casanova said.
Filinvest is the developer of the 244-hectare Filinvest City in Alabang, Muntinlupa City, and the PhP5-billion Filinvest Cyberzone Cebu, a business process outsourcing complex complex.
The company has over 100 projects located in 39 cities and municipalities nationwide. (PNA)