(SEALED. LLFC president and CEO Francisco Leonor Jr. shake hands with MTD Clark, Inc. chairman Isaac David after signing MOA with LLFC assistant VP and legal counsel Atty. Marla Barcenilla and BCDA president and CEO Vivencio Dizon standing as witnesses. Contributed photo)
CLARK FREEPORT – An agreement was recently signed to provide a viable option for government agencies to avail of Land Bank’s leasing and financial facilities for the acquisition of an office building or office spaces at the National Government Administrative Center (NGAC) at the New Clark City (NCC).
Signing the memorandum of agreement (MOA) with the Land Bank of the Philippines’ Leasing and Finance Corporation (LFC) were the Bases Conversion and Development Authority (BCDA) and its partner MTD Clark, Inc.
MTD chairman Isaac David and LFC president and chief executive officer Francisco Leonor Jr. led the signing ceremony. BCDA president and CEO Vince Dizon and LFC assistant vice president and legal counsel Atty. Marla Barcenilla witnessed the signing.
“The MOA will be historic in a sense that it will not only greatly assist the fast-tracking of the New Clark City development but will open new doors for government agencies to avail themselves of this novel instrument which has not been fully utilized in the Philippines,” Dizon said.
As a naturally resilient metropolis, NCC will house back-up offices of various government agencies including a world-class National Sports Center to be used for this year’s Southeast Asian (SEA) Games.
“The signing is the start of another milestone since we have almost completed the facilities in Phase 1A of NGAC,” David said.
“We thank BCDA for giving us this opportunity to be a co-developer in this project,” he added.
Phase 1A of NGAC is now 90 percent complete. It involves the construction of a 20,000-seater Athletics Stadium, 2,000-seater Aquatics Center, an Athletes’ Village, and a 1.4-kilometer River Park Corridor.
Meanwhile, Phase 1B involves the construction of more government offices and residential units.
Several government agencies have expressed interest in locating at the NCC including the Supreme Court of the Philippines which has signed a Memorandum of Understanding with BCDA for the allocation of a 5.8-hectare lot for its Judiciary Complex.
The NCC government center is among the centerpiece projects of the Duterte administration to solve the congestion problem in Metro Manila and accelerate economic growth in the regions.
