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THE Subic Bay Metropolitan Authority (SBMA) will relocate
auctioneers and importers of used motor vehicles to accommodate a
Dubai-based economic zone operator.
Armand C. Arreza, SBMA administrator said, that
Jafza International is eyeing to locate at the Boton wharf, which is
occupied by auctioneers and importers at the Freeport. The
Dubai-based company will put in $250 million for its logistics
facility project.
Arreza said that Dubai Autozone, which is the
largest second-hand car supplier in the Middle East and Africa, also
plans to operate a trading hub for used motor vehicles, which would
be transshipped to other countries.
Arreza said that about 50 auctioneers and
importers of used motor vehicles will be relocated along the Clark-Subic
expressway.
Majority of the auctioneers have 25-year lease
contracts with SBMA and have been paying rentals of P30 per square
meter as against the current going rate of P60.
-- Katrina Mennen A. Valdez
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