CLARK FREEPORT, Pampanga – Philippine Veterans Bank (PVB) and state-owned Clark Development Corporation (CDC) recently signed a P10 million lease agreement at the CDC Corporate Headquarters.

The lease agreement between PVB and CDC calls for the development of a commercial building that will house a PVB branch, a food court and canteen for employees, and office spaces that can be leased to tenants.

PVB President and CEO Ricardo Balbido Jr. and CDC President Benigno Ricafort signed the lease agreement and was witnessed by PVB and CDC officials including PVB Assistant Vice-President and North Luzon Area Head Paul Tuazon and CDC Assistant Vice-President for Legal Affairs Jose Cornelio Lukban.

The agreement, according to the CDC president, has a 25-year lease term and is renewable “upon such terms and conditions mutually agreeable” between PVB and CDC. The project will also call for the employment of 14 workers once fully operational.

The new building will be located at the former Home Plate building along E.Quirino Street inside the Clark Freeport Zone.

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For any questions or clarifications, please call:
Mike Villa-Real
Vice-President
Corporate Communications and Marketing Services Dept.
Tel: 902-1670
Email: mcvillareal@veteransbank.com.ph