SBMA Chairman and administrator Wilma T. Eisma said Friday that the agency has served a notice on the termination of the contract to the Marine De Subic Bay Exploratorium Inc. (SBMEI), which operates the marine theme park complex under a lease agreement signed in 2007. Leasing industrial land in the Subic Bay Industrial Park costs investors $55 per square metre for properties less than 2 hectares. For areas larger than 2 hectares, investors must pay $50 per square metre. In Subic Techno Park, the rented industrialized country costs between $75 and $80 per square metre, but the lease lasts only 50 years. Industrial land for rent in Subic Bay Freeport costs between 0.50 and 4.00 $US per square metre. In addition to non-compliance with the lease, SBMEI has also committed offences such as illegal subletting of real estate, unauthorized construction, improper storage of waste and closure of public roads. SBMA Chairman and Director Wilma T. Eisma stated that the SBMA Board of Directors adopted a decision on 30 June extending the additional time to recover all accounts due until 28 October, for a total of 119 days. The suspension period now includes march-to-September 2020 accounts for rental rents, sharing fees, port taxes, household garbage collection taxes, sub-mie and gross units. In 2007, SBMEI signed a new lease agreement for a total of 436.89 hectares of land and 67.87 hectares of land, with the obligation to develop 101.71 hectares for more tourism activities.
“After months of negotiations and attempts to help SBMEI retain its lease, there is no other recourse but to enforce the law and terminate the company`s lease in advance,” she added. This is the third extension of the grace period that Eisma says benefits businessmen who rent land, buildings and other infrastructure from the SBMA, and residents who pay monthly rents. The housing needs of business officers and their families are easily managed in the area. Subic has 1,876 residential units for the occupation of corporate officers. These units were previously occupied by high-ranking members of the U.S. Navy and their families and are located in well-maintained and safe areas. Approximately 1,000 units are still available for future occupancy under short- or long-term leases. The children of company officers can visit the nearby Brent School Subic.
These families will be pleased to know that the school uses a primarily U.S.-based curriculum, which is inspired by the International Baccalaureate program from Grade 1 to Grade 12. A good majority of these workers previously worked in the U.S. Navy and generally have a high level of knowledge of English as such. The SBMA Laboratory Centre helps Subic Bay Enterprises in the staff pool. There are also other labour suppliers who can help locators deal with the ongoing and ongoing supply of labour in the region, especially when the needs are immediate. This special economic zone could be one of the most exciting places to participate, not only in the Philippines, but perhaps throughout Southeast Asia. In subic`s Freeports area, there is also an entertaining aquarium and an ocean adventure park. Here you can not only attend a show with dolphins, sea lions and whales, but you also have the opportunity to attend close encounters, swimming and even training programs with these wonderful marine mammals. “We are firm, but fair,” Eisma said, adding: “We agree that the SBMA should abide by the simplicity of activity law, but that doesn`t mean we have to relax our rules at the expense of the government.” Given that the Subic Bay Golf Course is in the process of going through a $48 million upgrade and expansion project, the foreign developer plans to promote and sponsor large-scale junket flights from many other Southeast Asian countries in order to