The Bases Conversion and Development Authority (BCDA) is pitching a 99-year lease for investors in the Pax Silica project at New Clark City, aiming to secure billions in investments, according to Philstar Biz.
Pax Silica is a planned industrial and business hub focused on silica-based industries, leveraging the country's abundant quartz resources. The 99-year lease term is among the longest offered for state-owned land, intended to attract large-scale manufacturing and technology firms.
The BCDA expects the project to generate substantial economic activity and job creation in Central Luzon. Details of the lease agreement, including specific investment thresholds and timelines, have yet to be finalized.