BCDA eyes bidding for P1-billion Poro Point business hub by Q3

The Poro Point Freeport Zone master development plan, the blueprint for the transformation of 165 hectares of the La Union freeport into residential and business districts, was unveiled on Saturday at the Thunderbird Resorts located at PPFZ. According to the plan, Poro Point's grounds will be developed into five districts: the business hub, transit hub, residential areas, sports and town center . "This master development plan has a 50-year horizon," Bases Conversion and Development Authority (BCDA) Business Development Manager Arrey Perez said.   By the third quarter of this year, the BCDA is expected to offer up the 18-hectare business hub for bidding. "Right now we are still drafting the terms of references for Phase 1,” Perez explained. The development of the business hub has two phases. Phase 1-A, worth P1 billion, will include a strip specifically for business processing outsource companies. The remaining areas under Phase 1-B, worth P6 billion, will be bid out by 2016, at the latest. "We expect the BPO strip to drive investments in the Poro Point Freeport Zone as we capitalize on the booming BPO industry," Perez told GMA News Online. According to Poro Point Management Corp. President and CEO Florante Gerdan, they would prefer that the winning bidder offer a long-term contract of 25 years, renewable by another 25 years. Poro Point Management Corp. administers the PPFZ and is subsidiary of the BCDA. Meanwhile, Perez said that the national government was spending P280 million for the construction of roads in the business hub. Also, the Poro Point lighthouse, which provides a 360 degree view of La Union, will have a makeover this year to attract more tourists. "Will start bidding hopefully for the lighthouse, if we finalize the memorandum of agreement with the Philippine Coast Guard, it's going to be early third quarter this year together with the Phase 1-A, [of the business hub]," Perez said. The 236-hectare Freeport zone was formerly known as the Wallace Air Station. It is five hours away from Manila, and has its own airport and seaport. — DVM, GMA News