Clark Development Corp. (CDC) is now accepting proposals that would competitively challenge the unsolicited proposal by a Korean group for lease, development and management of the 175-hectare former Mimosa Leisure Estate (MLE), which has an estimated project cost of P4.167 billion.

In its notification, the CDC Joint Venture Selection Committee (JV-SC) said that it has accepted the unsolicited proposal of Hanwool I and D Corp., which is representing the Hanwool Joint Venture of I &d Venture Investment Co. Ltd., Daewoong Pharmaceutical Co. Ltd. and Kangwon Land Inc.

The private sector participants must meet the minimum eligibility requirements as duly organized consortium, partnership, corporation and sole proprietorship under Philippine laws or in a foreign country.

The challenger must be engaged in the ownership, operation or management on all of the following: at least 3-star accommodation with at least 150 rooms, casino and at least 18-hole golf course.

Participants are also required to have undertaken at least 50 percent aggregate engagement on all of the said projects.

This requirement meant to ensure that interested parties must be able comply with another requirement on its financial capability to fund the proposed projects within the MLE, which are estimated at P4.167 billion including the construction, operation and management of a new casino facility within the resort.

As such, the CDC has also required the challengers to be pre-qualified by the Philippine Amusement and Gaming Corp. (PAGCOR) to construct, operate and manage a new casino facility within the resort.

JV-SC chairman Noel F. Manankil said that companies and their affiliates that have arrears with CDC and or its affiliates or with pending court cases against CDC and or its affiliates are barred from participating in the MLE privatization.