The state-owned Bases Conversion and Development Authority (BCDA) teamed up with M Health Limited (MHL), a United Kingdom-based company, in developming a 160-hectare land in Clark Green City (CGC) in Central Luzon.
BCDA said on Wednesday that it forged a Memorandum of Understanding (MOU) with MHL to develop the 160-hectare area in CGC to a healthy living community.
MHL is BCDA’s third international partner to rise the 9,450-hectare CGC, which is eyed to be the country’s first smart, green, and disaster-resilient metropolis.
BCDA recently sealed partnership for CGC development with United Arab Emirates-based Al Ahli Holding Group and Japanese government’s Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN).
MHL has the expertise, capabilities and commitment to cooperate with BCDA to jointly undertake the development of a 160-hectare healthy living community that offers a sustainable and self-sufficient community that has a balanced residential, commercial, and leisure facilities, as well as one that acknowledges that social health is the foundation for physical well-being, BCDA President and Chief Executive Officer Arnel Paciano D. Casanova said.
Under the MOU, BCDA will lease the property to MHL for 50 years, renewable for another 50 years.
The MHL, on the other hand, will conduct a pre-investment feasibility study, business plan and conceptual plan for a period of 12 months and extendible for another 12 months.
MHL is a global leader in managing healthcare projects and services with 150 healthcare projects in over 50 countries including the British Virgin Islands, Malaysia, Indonesia and Central Europe. (PNA)