14 Dec 2016
PHILIPPINES: 99-Year Leases Set to be Introduced for SEZ FDI Projects
Overseas investors will be entitled to apply for 99-year land leases for projects in the country’s Special Economic Zones (SEZs). At present, buildings and land in the SEZs can only by leased for a maximum of 50 years (with a one-time extension of 25 years) by foreign investors.
The change is currently awaiting approval by Congress following the submission of a draft proposal by the Philippine Economic Zone Authority. No date for adoption has yet been announced.