Smart Communications is asking for the renewal of its lease of 225 square meters in Mambukal Resort in Murcia, Negros Occidental, resort manager Ellen Marie Jalandoni said in a report to Gov. Alfredo Marañon Jr.

Smart had constructed a cellsite tower in the Mambukal property that it had leased for 10 years to improve its telecommunications services, the contract of which ends on October 15, she said.

The rental rate of the previous contract was P6,000 per month and had an escalation rate of 4.5 percent on the fourth year and every year thereafter, she added.

Smart is proposing to renew its contract for another 10 years from Oct. 15, 2014 to Oct. 15, 2024 for a lease rate of P8,000 per square meter per month or P96,000 yearly, with an escalation rate of 3 percent on the fourth year and every year thereafter, she said.*CPG

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