Clark Freeport—Clark International Airport Corp. is conducting an appraisal of non-performing assets to determine their market value for future disposal as part of the inventory of facilities within the Civil Aviation Complex.
“One of our proactive responses to the pandemic is to conduct a thorough inventory of both fixed and movable assets, including non-performing assets, which will be converted into additional revenues for the government,” CIAC President Aaron Aquino said.
He added that the appraisal is needed to determine the market value of these facilities and to ensure a just and efficient real property valuation system beneficial to the government.
The CIAC chief said the appraisal committee, led by two CIAC vice presidents, Irish Calaguas of the operations group, and Nancy Paglinawan of the finance office, along with property management staff and a licensed third-party appraiser, were instructed to inspect and create an updated database of CIAC’s real property, facilities and equipment.
Clearing operations have started in areas around buildings, including idle facilities, along with engineering works and identification of market value of all structures within the aviation complex.
Aquino noted that leasable lands with or without buildings need to be appealing to an investment hub like Clark.
The public bidding for CIAC’s unserviceable assets such as service vehicles, various information technology equipment, machinery, and office fixtures and furniture will be announced on the agency’s website.
The civil aviation complex managed by CIAC is home to the privately-run Clark International Airport, as well as the mixed-use business district Clark Global City, and currently around 45 locators in cargo and aviation-related businesses.