Ret. Gen. Edgardo Aglipay, the current chairman of the PRA said he is in talks with a number of private companies who are interested in marketing and operating a retirement village in Subic under the supervision of the PRA.
The PRA is looking at the greyback area in Binictican, the Kalayaan housing area and an area beside the former George Dewey High School.
The PRA is the lead government agency mandated to attract foreign nationals and former Filipino citizens to retire in the Philippines.
Through the PRA, foreign retirees could avail of Philippine Special Permanent Resident Visa Program and the Special Resident Retirees’ Visa (SRRVisa).
The SRRVisa is a special non-immigrant resident visa that provides its holders with multiple-entry and indefinite stay status in the Philippines.
It grants tax-free incentives and privileges as well as value-added services and benefits from partner establishments.
Subic Bay Metropolitan Authority (SBMA) administrator Armand Arreza said he welcomes the PRA proposal.
"We are really selling the Subic Bay Freeport to retirees who want to have an ocean view or a forest view without the hassles of urban living," Arreza said.
Arreza said there are three existing Japanese retirement communities in Subic. However, he added that there are still untapped space that can be utilized for residential development.