CLARK DEVELOPMENT Corp. (CDC) has called for bid proposals from property developers for 25-year leases on two lots at the Clark Freeport Zone.

The prospective proponents must be in property development, including hotel, restaurant, office building, commercial, and other amenities development.

The government-owned and -controlled corporation said that the first property is an 11,700 square meter (sq.m.) lot on C.M. Recto Ave., which has a minimum required investment of P1.72 billion. Prospective proponents must pay a P200,000 fee before they will be issued the terms of reference.

The second property is a 3,816 sq.m. lot on J.A. Santos Ave., which has a minimum required investment of P438 million. The non-refundable fee is P100,000.

The proponents must have previously done a similar project, equivalent to 50% of the minimum required investment.

For both properties, terms of reference will be issued between Oct. 15 to Nov. 18. The pre-bid conference will be on Oct. 22, while submission and opening of bids will be on Nov. 19 at the CDC board room.

The minimum proposal to lease and develop property from CDC is $2.50 per square meter each month. The winning proponent would the “highest ranked and complying bid.”

CDC said in its invitation that it reserves the right to accept or reject applications or bids without offering any reason. It may also stop the process and reject all bids before a contract award without liability to the affected bidder.

CDC said that it may also make an award to the bidder “whose proposal is most advantageous to the government,” and makes no guarantee that an award will be made. — Jenina P. Ibañez