TARLAC Gov. Susan Yap and Development Bank of the Philippines [DBP] officials led the recent ground-breaking ceremony for the seven-storey
Investment Property Building.
It will be constructed at Macabulos Drive in San Roque, here.
The building, which will be named “Macabulos Hall” will be financed by DBP through a loan agreement amounting to P270 million through a soft loan payable in 10 years inclusive of a two-year grace period. The principal is payable in 96 equal monthly amortization to commence at the end of the 25th month from the date of initial drawdown.
The building will have a basement parking area. The ground and second floors will be utilized as commercial areas, third to fifth
floors will house government offices and the function rooms will be constructed at the roof deck.
In her speech, Yap said that the building will “pay for itself” as it will be an income generating edifice.
“This building will pay for itself as it will generate income for the provincial government,” she said. The governor likewise
thanked DBP for the partnership saying, “this partnership with the Development Bank will go a long way.”
On July 6, a formal signing of a Memorandum of Agreement was undertaken by DBP officials led by its President, former Senator
and Foreign Affairs Secretary Alberto Romulo and Yap.
“Our aspiration of inclusive growth and sustainable development is experienced in the different areas of Tarlac province
through the implementation of various development programs and services of in-depth analysis, studies and consultations,” Yap
Board Members Henry Cruz, Harmes Sembrano, Antonio Cervantes Jr., Enrico de Leon and Jude Joseph David, capitol department heads, DBP Bulacan Lending Center Head Regin Soliman, DBP North and Central Luzon Lending Group Head Catherine Camara, and other DBP officials were in attendance during the groundbreaking ceremony.