AFP to get ₱20 Billion from sale of Jusmag property - for Frigates MPAC Eurocopters

[Armed Forces of the Philippines (AFP) Properties sold to upgrade the Armaments of the Philippines]

The Armed Forces of the Philippines (AFP) is expected to receive a total of more than   20 billion for its modernization program from the sale of one of its properties in Fort Bonifacio, Taguig City, a Bases Conversion and Development Authority (BCDA) official said Saturday.

BCDA Executive Vice President Aileen Zosa said the disposition of the 34.5-hectare Joint US Military Assistance Group (Jusmag) area in Fort Bonifacio to realty developers would help fund the military's modernization drive.

"The Jusmag area will generate for the Armed Forces of the Philippines more than 20 billion over the years," Zosa said.

The 20 billion is expected to fund the government's planned purchase of warships, jet fighters and other equipment to modernize the military in the coming years.

It intends to buy from the Italian Navy next year two Maestrale-class frigates armed with surface-to-air and surface-to-surface missiles and capable of antisubmarine warfare. The ships will cost 11.7 billion.

[ Purchase of 2 Italian Made Maestrale-class frigates armed with surface-to-air and surface-to-surface missiles and capable of antisubmarine warfare]

The Department of National Defense also plans to acquire 10 T-50 multipurpose supersonic jet fighters from South Korea to secure the nation's airspace.

This year, the military will also get two or four of 10 attack Eurocopters worth 3.2 billion from France; 21 UH1 helicopters worth 1.2 billion, two multipurpose attack craft (MPACs) and four Sokol helicopters.

Zosa announced the expected windfall from the Jusmag property sale during BCDA's turnover of 64 condominium units in Fort Bonifacio to the AFP for the use of soldiers and their families.

"The BCDA does not only help the armed forces expedite the implementation of its modernization and capability upgrade program, but also recognizes the sacrifices made by our soldiers through significant projects that help military dependents live a better quality of life," said AFP chief of staff Gen. Jessie Dellosa.

"In return for the continuous assistance and benefits from the BCDA, the AFP assures that we will be more enthused to perform our mandate of protecting the people and the state more efficiently and effectively," he added.

As of December last year, the BCDA has already remitted 15.1 billion to the AFP from the sale of its other real estate properties.

The House of Representatives has also approved a bill extending the AFP modernization law and providing it with a 75-billion budget over the years.

Undersecretary Fernando Manalo, who attended the turnover ceremony of the condominium units in behalf of Defense Secretary Voltaire Gazmin, said these would help boost the morale of soldiers.

[Attack eurocopter - photo from wikimedia] 

The AFP formally received the four residential condominium buildings. Each condominium unit has a total area of 100-square meters with three bedrooms. The five-storey buildings with 16 condo units each can house a total of 64 families of active Army soldiers.

This is part of the BCDA's Jusmag replication program, a 700-million project which aims to provide the AFP with 12 residential condominium buildings.

Of the 10 buildings being constructed at Fort Bonifacio, nine buildings are reserved for the Philippine Army and one building for the Philippine Navy. The two other buildings are located within the retention area of the Philippine Air Force in Villamor Air Base, Pasay City.

Inquirer 

Share on Google Plus

About Webber

I am among of the writers and administrators of this web site. I always on the heads up when it comes to Sports, Politics, Economy, Business, Physics, Mathematics, Technology, computers and NEWS all over the world that triggers ny eyes and interests. I am working as a volunteer with other 14 administrators, researchers, writers and contributors. We are a strong solid team. Join us and be among of the contributor with your name on each posted article.

    Anonymous or Google Comment
    Facebook Comment

YOU MAY LIKE TO READ

Investment Recommendation: Bitcoin Investments


Zinc7 Offers 7% Interest Growth of your BITCOIN Investment

Grow your $25 USD to $38.50 in 30 days


Where to buy Bitcoins?

For Philippine customers: You could buy Bitcoin Online at Coins.ph
For outside the Philippines customers  may buy Bitcoins online at Coinbase.com