Clark cited as foremost office space market

CLARK FREEPORT— This Freeport is now considered the second major office space market in the country.

During the Philippine Economic briefing here, Clark Global City (CGC) Chief Investment Officer Evan McBride mentioned that in a recent statistic by Leechiu Property Consultants (LPC), Clark ranked second among the preferred office locations in the country.

“For the first time ever, in the brand new statistics just released by the Leechiu and Associates for real estate, Clark surpassed Cebu as top choice area for office space,” McBride said.

The economic briefing was organized by the Bangko Sentral ng Pilipinas in cooperation with Bases Conversion Development Authority (BCDA), Clark Development Corporation (CDC) and Clark International Airport Corporation (CIAC).

Among the presentors in the event were Udenna Corporation, which is now developing 177-hectare area here and Megawide Construction Corporation, which is constructing a second passenger terminal at the Clark International Airport which can accommodate 8 million passengers per annum.
2nd best

Clark surpassed Cebu which has been named as the country’s second major area in terms of office space market in the past ten years.

In the statistics provided by LPC, from January to September of this year, Clark reached 111,000 square meters of area for office space transaction, surpassing Cebu with 76,000 square meters for demanded office area.

This represents eight percent of the overall transaction in the country.

Other locations that were included in the list were Iloilo, Cavite, Nueva Ecija, Davao and Rizal.

Metro Manila was named the highest office market with 1.1 million square meters.

Location, location, location

McBride also mentioned that the strategic location of Clark with its connectivity and infrastructure makes it an ideal business location.

“It has an efficient connectivity, it’s in the heart of the country’s highway system touching the SCTEX with its own exit from the SCTEX. It is 148 meters above sea level, protected from typhoons by Sierra Madre and Zambales mountain range and not on any fault lines,” McBride said.

Clark expansion
Meanwhile, other upcoming projects in Clark were mentioned during the briefing.

CDC Assistant Vice President for Business Development Department Rodem Perez said that the state-owned agency supports the government’s programs by strengthening connectivity in the Freeport.

In the same way, CIAC Vice President Darwin Cunanan reported that the airport handles flights to 18 domestic destinations with 261 flight per week and 9 international destinations with 162 flights per week.

 

SOURCE

Mar Supnad (2018, September 26). Clark cited as foremost office space market Retrieved from https://news.mb.com.ph/2018/09/26/clark-cited-as-foremost-office-space-market/