|
SUBIC
BAY FREEPORT—Jafza International, the renowned
Dubai-based operator of free-trade zones around the
world, has begun collection of market data in the Subic
Bay Freeport Zone in preparation for its $250-million
development project here.
A team,
headed by Jafza general manager Noel Gulliver William,
arrived here Tuesday and conducted the following day an
ocular survey of the four contiguous project areas: the
Boton logistics district, Subic Techno Park, Subic
airport, and Cubi’s residential and leisure complex.
Two
other Jafza officials, Sherif Muhtaseb and Anwar Muhamed,
joined William during the survey.
Subic
Bay Metropolitan Authority (SBMA) Administrator Armand
Arreza, who met with the group on Tuesday, said the
Jafza delegation is “laying down the foundation” for the
project, which will involve the planning, development
and management of mixed-use properties here.
“They
collected pertinent information about the area and other
market data,” Arreza said, adding that the data will be
used in financial modeling and preparing the project
master plan.
The
project, which will capitalize on Jafza’s expertise in
managing what is internationally recognized as the most
successful and fastest-growing free-zone operation in
the world—the Jebel Ali Free Zone in Dubai—is expected
to launch Subic as a leading player in the global
logistics industry, Arreza said.
Arreza
signed the agreement for the
Subic project with Salma Hareb, CEO of Jafza and Economic Zones
World, during the official visit of President Arroyo to
the
United
Arab Emirates on January 27.
Under
the agreement, Jafza will serve as the primary
developer, manage the development process, supervise
project design and capital raising, and oversee
construction and operation. It will also be responsible
for operation, sales, leasing and marketing of the
developed property.
Meanwhile, the SBMA will assist in project documentation
and take charge of all necessary approvals and permits.
Consistent with Jafza’s reputation for setting the
highest standards in quality and excellence, Arreza said
the development project would adhere to world-class
standards set by Jafza, a pioneer in the development and
operation of large commercially operated free zones
around the world.
“Because
of this, the SBMA is optimistic the project will
increase Subic’s value as an important port of call for
commerce, industry and leisure in the Southeast Asian
region,” Arreza said.
On the
other hand, Jafza officials appear enthusiastic over the
Subic project after they described the free port here as
“an ideal gateway to Asian markets,” Arreza added.
According to the Jafza web site, the firm had been a
“critical factor in the improvement, expansion and
clockwork efficacy of economic trade zones from Tangiers
[in Morocco] to Kuala Lumpur.”
Jafza,
which is backed by the
Dubai government-owned DP World Group, also boasts of over
6,000 companies in its network, including 125 from the
Fortune 500 Group, the firm’s web site added.
Among
the international ecozone projects undertaken by the
said firm are the Djibouti Free Zone in
Ethiopia,
which now accounts for the majority of trade from
Europe, Asia and the rest of the African continent, and
the Mediterranean Hub Project (Medhub) in Morocco, which
is being positioned as a multimodal logistics platform
in the
Mediterranean. |
