Section 1Sec./Art. 1

Nature and Scope of Franchise. -Subject to the provisions of the Constitution and applicable laws, rules and regulations, there is hereby granted to San Miguel Aerocity Inc., hereinafter referred to as the grantee, its successors or assignees, a franchise to construct, develop, establish, operate and maintain for commercial purposes and in the public interest, a domestic and international airport, hereinafter referred to as the airport, in Barangays Taliptip and Bambang in the Municipality of Bulakan, Province of Bulacan.

The grantee, its successors or assignees, shall likewise have the right to construct, acquire, lease, operate, or manage such properties as are convenient or essential to efficiently carry out the objectives of this Act, such as toll roads, railroads, mass transport systems, hotels, warehouse, hangars, aircraft service stations and other facilities, as well as to develop the areas adjacent to the airport into one integral and comprehensive development, hereinafter collectively referred to as the Airport City.