Subic Bay Freeport is getting additional 24,725 hectares, majority of which come from neighboring towns, to expand the former American naval base which has been running out of space it can offer to new investors and expanding existing locators.
Of this expansion area, five neighboring towns have initially allotted a total of 21,495 hectares of land to the Subic Bay Freeport, which has been running out of property to lease to more investors in the former American naval base.
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| Bird's eye view of the Subic Bay Freeport Zone |
Data showed that six local government units have initially allotted these properties for Subic expansion. The biggest lot contributor is San Marcelino with 10,000-hectare allocation followed by San Antonio with 9,000, Olongapo with 900 hectares, Subic with 500-600 hectares, Hermosa 505 hectares, and Catillejos with 500 hectares.
Usually, Subic Bay Metropolitan Authority (SBMA) leases out properties to investors at certain rates. Under the plan, the San Marcelino lot would be used for mining, quarry and agriculture projects while San Antonio has been reserved for resort development and leisure industry.
The Olongapo LGU allocation would be used for housing, light industry and tourism projects while the 500-600 hectares in Subic could be offered for factories, agriculture and energy facilities.
Hermosa may be developed to house light to heavy industry, renewable energy, metal industry and staging of trucks auctions. The Castillejos land allocation can also be used for light to medium industry warehousing.
The remaining properties would come from the Redondo Peninsula with 3,000 hectares; infill development of 150 hectares and reclamation of 20 hectares. (Bernie Cahiles -Magkilat, Manila Bulletin)
Read more --> https://business.mb.com.ph/2018/07/02/subic-freeport-gets-new-areas-to-host-more-investors/
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