MABALACAT | Clark Freeport Zone Developments [mix]

Clark Freeport – Clark Development Corporation (CDC) has earmarked P2 billion for the expansion and enhancement of road networks at Clark Freeport.
CDC president and chief executive officer Noel F. Manankil said that the Clark road and access projects are being prioritized to avoid traffic, given the ongoing and future developments here.
“We have expanded a lot of road networks because the thing that we don’t want happening in Clark is traffic. I think one of our biggest selling point is we don’t have traffic,” Manankil said.
Manankil added that the non-existence of traffic in the Freeport further boosts the ease of doing business here.
He said CDC has earmarked the big amount not only for the construction and expansion of road networks in Clark but also in preparation for the influx of investment projects, workers, local and foreign tourists to be generated by the ongoing expansion of Clark International Airport (CRK).
In 2017, the state-run firm spent more than P1 billion for various infrastructure projects inside Clark.
Clark has 949 locators-investors at present with more than 108,000 workers as of end of April 30 this year, said Noel Tulabut, CDC communications manager.
“Even with the development we have right now, we’re very conscious about traffic because it eats up a lot of economic resources,” he added.

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Taiwanese firms are establishing a new industrial estate in Clark Freeport as their economic zone in Subic has already run out of space with more Taiwanese companies investing in the country.
Michael P. Y. Hsu, Taipei Economic and Cultural Office representative to Manila, told Manila Bulletin Business at the launch of the Yulon Finance Philippines Corp. that Taiwanese investors are still looking for location in Clark although some investors have already sited their factories in Cavite.
“We expect more Taiwanese firms to invest in the Philippines this year,” said Hsu noting that Taiwan investments in 2017 reached more than P10.83 billion.
Hsu said Taiwanese businessmen prefer Clark because there is no traffic and is conveniently situated.
“Actually we have to trace back to 1990s when we started encouraging Taiwanese firms to come to invest inside the Subic Bay Industrial Park, which was developed by Taiwanese firms. Now, we have more than 40 factories in their but the land is no longer enough so we’re trying to look in Clark,” he said

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The Bases Conversion and Development Authority (BCDA) and the Clark Development Corporation (CDC) launch today the new Clark brand integrating the four districts: the Clark Freeport Zone, Clark Global City, Clark International Airport, and New Clark City.

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Korean firm Widus International Leisure Inc. (WILI) is set to pour additional P15 billion investments ($300 million) in their leisure and resort complex project in the next three years inside this Freeport zone bringing its total investments in Clark to $500 million, according to Clark Development Cooperation (CDC).

The additional investment, which is on top of the $200 million WILI had already poured in its existing projects, was announced during the signing of the consolidated lease agreement between CDC President and CEO Noel F. Manankil and Widus International Leisure Inc. (WILI) President Dae Sik Han.

A CDC statement quoted WILI Assistant Vice President for Corporate Planning and Compliance Agnes ‘Neki’ Liwanag that the firm has committed to pour the additional investments to develop a new property that will complement their existing facilities here.

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MANILA, Philippines — Gotianun-led Filinvest Group is pouring in more than $200 million for its first ever integrated casino resort in Clark.
Under FHC subsidiary Mimosa Cityscapes Inc., Filinvest has a provisional license granted by the Philippine Amusement and Gaming Corp. (PagCOR) for a casino integrated resort in Filinvest Mimosa. FHC or Filinvest Hospitality Corp. is a subsidiary of Filinvest Development Corp., the Gotianun-led holding company.More than $200 million has been allotted to the project, which includes a casino, lifestyle mall, five-star hotel and events venue.

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ISOC Land of businessman Michael Cosiquien has inked a deal with Clark Development Corp. (CDC) to lease and develop a seven-hectare property into a large-scale masterplanned estate.
The project will bring together residential condominiums, office buildings, hotels, retail shops, and recreational/entertainment facilities, and serviced apartments.
ISOC Holdings chairman Michael Cosiquien said the project would showcase the company’s thrust towards environmental sustainability.
“We see this project as a showpiece for ISOC’s very strong push towards environmental sustainability where we will maximize the natural attributes and resources of the property and incorporate them in the design, flow, construction and use of building and facilities,” Cosiquien said.
It will be the second project for I-Land after its I-Land Bay Plaza project which is now under construction at the Mall of Asia in Pasay City.
CDC president and CEO Noel F. Manankil said the project will complement the various developments in the Clark Freeport Zone.
“There is a growing demand for more lodging facilities and corresponding amenities within a carefully planned community that ushers in a new, unique and distinctive lifestyle. This undertaking augurs well in the overall development blueprint for Clark that would redound to a greater benefit for the region,” Manankil said.

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