Subic Bay Freeport: The Subic Bay Metropolitan on Friday announced that it had signed a deal with Ayala Land, Inc (ALI) in an effort to push developments beyond the secured area of Subic.
The plan according to SBMA Administrator Armand Arezza is to draw a master plan to transform a portion of Olongapo City and the Subic Bay Freeport into a green, environmentally-friendly residential, commercial and institutional area.
(Photo caption: The triangles dubbed as “CBD Triangle” is lined out which will be the subject of further development by the Subic Bay Metropolitan Authority and Olongapo City together with Ayala Land inc. )
Dubbed as the Central Business District CBD Triangle, the project will be the intial project of SBMA’s trust to extend the physical boundaries of Subic Bay Freeport, and in the process generate more livelihood opportunities for the surrounding communities.
The CBD Triangle will cover 7,000-square meter area along and inside the triangle formed by Magsaysay Drive, Rizal Avenue Extension, and Perimeter Road in Olongapo City, as well as the former SubCom area inside the free port.
When in place, the CBD Triangle “will effectively generate economic activities in the city, provide more jobs, and improve the quality of life of the residents,” Arreza said.
Based on a land use plan submitted by ALI, the former SubCom Area will be converted into a mixed-use area with emphasis on retailing businesses.
Magsaysay Drive, meanwhile, will be transformed into a commercial-office block, Rizal Avenue Extension into a residential area, while an institutional area will rise within the block composed of Fendler, Third, Hansen and First Streets, inside the triangle.
On the other hand, the banks of the Kalalake River inside the CBD Triangle will be turned into a waterfront garden for relaxation, picnics and small group activities.
“The area is beautiful and any transformation should be planned well, otherwise the deterioration of the environment will continue,” said ALI president, Anthony Aquino.
He added that any project to be constructed within the CBD Triangle will be relevant to the history, culture and dynamics of Subic Bay and Olongapo City.
Arreza said the CBD Triangle project was conceptualized after President Arroyo signed on November 5, 2007 Executive Order 675, which granted tax and duty-free privileges to investors locating beyond the “secured area” but within the Subic Special Economic and Free Port Zone (SSEFPZ).
Aside from doing the CBD Triangle master plan, ALI also volunteered to draw the plans for the development of beach areas in Olongapo City into world-class tourist resort destinations.
“Olongapo City is the nearest beach and resort destination from Manila that is why development of the facilities in this area is very timely,” Arreza also said.
It’s a good news for the whole people of Olongapo city.
Too bad for small business groups. I think u should consider them too besides, olongapo is too small to have a mall!
why cover only the areas of Fendler, Third, Hansen and First Streets…looks to me these are the key locations of some properties of the Big G’s of Olongapo
If you are going to look at a bigger picture, It will definitely bring more good than bad things in Olongapo City. But one must not fail to consider that the area they are proposing is heavily populated with residential and business establishment. And since we are headed to a change in government this May, I don’t think this plan will push through in the near future