Philippines Clark Freeport Zone has become one of the hottest investment destinations not only for businesses in Manila but also investors from all over the world. In addition to tax incentives and other perks accorded to establishments located in the Freeport Zone, Clark offers other advantages, some money can’t buy. Low crime rate, no traffic and pollution and the city’s generally attractive ambience make this an appealing place location for all sorts of industries. So how much does it cost to acquire a long lease on a good property in Clark Philippines?
Depending on the location and the state of development of the property in question, monthly lease rental per square meter for a decent property in Pampanga Clark Freeport Zone ranges from US$0.60 to $1.5. Prime properties are located near the entrance of Clark bordering Angeles City as well as the central business district along the road where the duty-free shopping malls are.
Lease period ranges from 10 to 50 years, depending on the property as well as the nature of the development project. Currently the administration – Clark Development Corporation, or CDC – favors projects that will bring a large number of job opportunities to the province of Pampanga.
Most of the land in prime locations of Clark Philippines has already been leased out. Some pockets of prime properties are now available through sub-leases or an assignment of the lease contract to new investors. Because of the bureaucracies and the voluminous red tape required to get a new development project approved by the board of Clark Development Corporation, many new investors prefer to take over and existing project instead.
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There are no official publications for land available for lease in Clark Philippines except for the listing provided by CDC which is often obsolete and not very accurate. Large contiguous tracts of land is hard to find and even more difficult to acquire inside Clark Freeport Zone. However there are nice parcels up to 18 hectares that are available. Long-term leases of 30 to 50 years of some of these properties can be acquired with a one-time payment of roughly US$1.3 Million per hectare, higher of course if there are improvements on the ground already.
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