Chroma

25 APRIL 2016

Filinvest signs 50-year lease for Mimosa Leisure Estate in Clark

Filinvest Mimosa, Inc., as the winning bidder in the privatization of the former Mimosa Leisure Estate, has signed the lease agreement with Clark Development Corporation for a term of 50 years, renewable for another 25 years.

FMI is a new company formed by the consortium of Filinvest Development Corporation (FDC) and Filinvest Land, Inc. (FLI). Over the 50-year period, Filinvest Mimosa will develop, manage, and operate the estate.

The former Mimosa Leisure Estate is located in Clark Freeport Zone, Philippines, approximately 100 km north of Metro Manila. Currently, the property includes an operating hotel with 303 rooms, more than 100 villas, and two golf courses.

The estate has around 50 hectares of land that can be developed and further enhanced to meet the growing demands of the Clark Freeport Zone.

“We are looking forward to managing and operating this leisure development because we anticipate that tourism will grow significantly in the area, with the Clark airport playing a significant role as an international hub,” said Filinvest Mimosa and FDC president Josephine Gotianun-Yap

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