$5-B Clark Global City New Center Launched
CLARK FREEPORT — The Udenna Development Corporation (UDEVCO) on Tuesday, May 29, launched the $5-billion Clark Global City’s The New Center, the new central business district of Clark. This, after Udenna Group announced the development of what it envisions to become the “new center” of business, life and innovation in the Philippines. The fast-growing conglomerate has completed the master plan of the 177-hectare prime property development it recently acquired within the Clark Freeport Zone in Mabalacat City. The new development of the Clark Global City which will be completed in 10 years’ time will host top-grade office buildings, up-market retail outlets, contemporary academic centers, sports centers, an urban park, an iconic tower, a hotel and casino, and modern support services and amenities. “We are developing what will become the Philippines’ new center of business, life and innovation,” Udenna chairman and CEO Dennis Uy said. “Clark Global City will offer a global business destination and spur economic transformation outside of Metro Manila, complementing the government’s efforts to spread growth across the country,” Uy added. At present, 47 hectares of the 177-hectare development have been fully completed with world-class horizontal infrastructure built to withstand storms. Completed vertical infrastructure within Clark Global City include a 173-bed hospital under The Medical City brand and two top-grade office buildings with 57,000 square meters of leasable office and retail space. Udenna officials are inviting local and foreign developers to invest at the Clark Global City. At present, talks are already underway with nine leading local and foreign companies. “Clark Global City’s location within a special economic zone and near major thoroughfares along with the pool of diverse talents that abound the region make for a global business destination,” Uy said. Situated within the Clark Freeport Zone, the development offers the benefits of an ideal regulatory, economic and operating environment. Clark Global City also offers direct access to the Clark International Airport, which sits about 7.5 kilometers or 10 minutes away by car. The new terminal, under construction, will have a direct link to the existing road leading to the development. Prospective locators will further benefit from the completion of the NLEx-SLEx Connector Road, Subic-Clark Cargo Railway and PNR North Railway in the next two to three years. The planned PNR North Railway, for one, will create access to a bigger talent pool. The mass transportation system designed to carry 350,000 passengers daily will link the National Capital Region and Central Luzon. Central Luzon is home to 11.58 million people. Outside of Metro Manila, the region has the highest number of college graduates in its labor force numbering to 7.8 million. The mixed-use development forms part of Udenna’s growing property portfolio that includes a $300-million integrated resort and casino in Mactan, Cebu and an office tower in the Bonifacio Global City. “We hope Clark Global City will help pave the way for more companies in various industries to invest in the Philippines and, subsequently, create more employment opportunities for Filipinos,” Uy ended.
Marna Dagumboy-Del Rosario (2018, May 29). $5-B Clark Global City New Center Launched Retrieved from http://my.sunstar.com.ph/pampanga/local-news/2018/05/29/5-b-clark-global-city-new-center-launched-601665