Photos by Joanna Rose Aglibot
By Joanna Rose Aglibot
Another Subic Bay Locator has been shut down by the Subic Bay Metropolitan Authority (SBMA) on Wednesday.
The agency repossessed the land and building being leased out to Duty Free Superstore Inc. (DFSI) due to multiple violations, according to SBMA Chair and Administrator Jonathan Tan.
DFSI used to occupy Building 332 and its adjacent lot on Burgos Street, Naval Station.
It covers an area of 651 square meters, apart from the 463-sq.m. adjacent lot. Data from SBMA showed that DFSI had a contractual default of non-payment of lease rentals, common use service area (CUSA) fees and other charges that amounted to P15,932,595.16 as of March 2017.
The company has a lease agreement with the SBMA dated Sept. 16, 2003, with a 25-year lease term that was supposed to end on Sept. 15, 2028.
“We want to continue with our thrust to repossess and reutilize idle lands inside the free port to promote a more efficient and vibrant business climate here,” Tan told the Insider.
The SBMA head said the agency had already repossessed 10 parcels of unused land, noting that it could takeover 20 more properties pending the agency’s audits.
