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BCDA, Filinvest sign deal for Clark Green City dev’t

 

Clark Green City mapping Photo courtesy of zonelisting.com.ph

Clark Green City mapping
Photo courtesy of zonelisting.com.ph

 State-owned Bases Conversion and Development Authority (BCDA) and the Gotianun-owned Filinvest Land Inc. have closed a landmark deal for the first phase development of Clark Green City, particularly the 288-hectare parcel of land.
“We celebrate a momentous event as the signing of this joint venture agreement with Filinvest Land, Inc. jumpstarts the full development of 9,450-hectare Clark Green City as the country’s first smart, green and disaster-resilient metropolis,” announced BCDA President and CEO Arnel Paciano D. Casanova.
The Clark Green City is BCDA’s flagship project for the development of a modern, intelligent and sustainable Clark Green City.
The joint venture is 45 percent owned by BCDA and 55 percent owned by Filinvest Land, Inc. The agreement is good for  50 years renewable for another 50 years.
Filinvest President and CEO L. Josephine Gotianun-Yap said the Filinvest parcel will have two distinct components, an industrial zone and a mixed-use development with residential, office, commercial and institutional elements.
“As the pioneer developer involved in Clark Green City, we are excited to be a catalyst of growth in such a visionary endeavor. At the same time, this is also a prime opportunity for us to expand our geographic footprint in Northern Luzon, ” Gotianun-Yap said.
She said the comprehensive planning for the development is programmed in the next 9 months with development to start within the next two years.
“Filinvest Land, Inc.—as the developer of the 244-hectare Filinvest City in Alabang and the P5-billion  business process outsourcing (BPO) complex called Filinvest Cyberzone Cebu—will bring its expertise in the development of large master-planned township projects to Clark Green City,” Casanova said.
Filinvest Land, Inc. currently has over 100 projects located in 39 cities and municipalities nationwide.
Clark Green City is a 9,450-hectare master planned property within the Clark Special Economic Zone in the province of Tarlac, Philippines. At full development, Clark Green City will have some 1.12 million residents, 800,000 workers and contribute a gross output of approximately P1.57 trillion per year to the national economy or roughly four percent share in the county’s Gross Domestic Product (GDP).