The Poro Point Management Corp. (PPMC), a subsidiary of Bases Conversion and Development Authority (BCDA), is calling for interested bidders to bid for the 25-year lease and development of the six-hectare Poro Point Lighthouse in San Fernando, La Union.

"This is a good opportunity to take advantage of the robust growth in the region that reported a strong 7.7 percent expansion in 2013," BCDA president and CEO Arnel Paciano Casanova said in a statement on Tuesday.

"The improvements in infrastructure, specifically a better road network, will further boost growth in tourism," he said.

The minimum floor price is set at P5.28 million for the annual lease of the property, subject to a 10-percent increase on the third year and every two years thereafter.

The first year of the lease term will be rent-free.

The 25-year lease term will be renewable for another 25 years, subject to the approval of the Philippine Coast Guard (PCG), according to the terms of reference.

The Poro Point Lighthouse and its reservation is under the jurisdiction of PCG.

Developments to be introduced in the property shall be limited to tourism-leisure and entertainment related facilities such as: hotels, condotel facilities, cliff-walks with view decks, landscape areas, parks, playgrounds, gardens, function halls, commercial stores, cafes, restaurants, amphitheaters, pavilions, picnic areas, and gazebos.

It also includes the repair and rehabilitation of the modern lighthouse, restoration of the old Spanish lighthouse, and the shotgun house "into its original aesthetic beauty to serve as tourist attractions within the property."

A pre-bid conference will be held on Feb. 12 where the property, the terms of reference and inquiries from interested bidders will be discussed.

Read more from the original source:
Poro Point Management Corp. invites bids for Poro Point Lighthouse lease

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