It's a 25 year lease with the option extend another 25 years. The valuations are based on that, Clark is going to be the 2nd CBD to Manila, our 30 Ha is in the planned CBD, this is the largest parcel of land available.
Under the Build Build Build program the airport has been expanded to 8m passenger capacity, and a heap of other infrastructure either built of in the process of being built.
Re sublease, yes they're looking at all alternatives, was suppose to be completed 18 months ago, covid slowed it down, they were looking at developing the site as per their asx release, way beyond their means, I'm guessing maybe have a partner take 80-90% (sale) and keep a minor interest.
Ann: New Loan Facility, page-7
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