CDC president Noel Manankil said about 15 to 20 percent of CDC’s land lease contracts with some 920 investors in this Freeport would expire and some of these contracts might no longer be renewed.
“The buildings they built would then be CDC property and we plan to lease out these buildings with new rates per square meter. Details on this option would be among those to be covered by the master plan,” Manankil said.
CDC board chairman Jose de Jesus said the master plan would also cover what the CDC could do with the areas occupied by the Philippine Air Force here, amid proposals to transfer the air force to other areas to allow more investors in this freeport.
Manankil and De Jesus made the disclosures before members of the Capampangans in Media, Inc. here recently.
De Jesus noted that the PAF occupies 300 hectares in this freeport. Some 100 hectares are within the jurisdiction of the CDC, while the other 200 hectares are within the territory of the Clark International Airport Corp. (CIAC). CIAC an CDC are subsidiaries of the Bases Conversion Development Authority (BCDA), he explained.
Manankil said the contracts of several duty- free shops which were among the earliest investors in this freeport are set to expire next year. “There is a law that bars renewal of contracts of duty-free shops, so the only way for their owners to stay on is to move to other types of businesses,” he added.