THE President and CEO of the State-owned Bases Conversion and Development Authority (BCDA) said they will start tendering 1,300 hectares out of the 9,450 hectares of the Clark Green City (CGC) by the third quarter of this year to international and local investors.
Arnel Paciano D. Casanova said the BCDA is eyeing real estate developers, industrial park builders, township builders, and institutional developers among the investors for the first phase of CGC.
He added that the 1,300 hectares will be divided into several lots/packages.
President Benigno S. Aquino approved the master development plan and the development of the first phase during the recent NEDA Board meeting.
Clark Green City is an opportunity for a 100 percent foreign-owned company to invest in urban development in the Philippines since the entire area is a special economic zone.
International firms investing in Clark Green City further accelerates Foreign Direct Investments.
Some P59 billion is estimated to be the cost for the development of the first phase — shouldered mainly by international and local private sector proponents.
Clark Green City will play a crucial role in increasing the country’s competitiveness, especially when the economic integration of the Association of Southeast Asian Nations (ASEAN) is implemented.
It will open up the region to global trade and investments owing to the world-class infrastructure that is already within reach like the Clark International Airport, the Subic Bay Seaport and the Subic-Clark-Tarlac Expressway (SCTEX).
The country’s first green and smart metropolis, it will change for the better the way Filipinos live, the way Filipinos do business, and even the way Filipinos spend their leisure time.
The plan for the first phase is to bring in the critical mass by locating institutions such as schools, government offices and hospitals.
The University of the Philippines is Clark Green City’s first locator. CGC will be built to be disaster-resilient taking into consideration the ill-effects of climate change.
Just recently, the World Bank expressed its support to the project and will assist the BCDA in the area of innovation and sustainable green development.
Based on the Clark Green City District Plan, the new city will have five districts namely: the government district; central business district; academic district, agri-forestry research and development district; and the wellness and eco-tourism district.
At full development, Clark Green City would contribute approximately P1.57 trillion per year to the economy of the country and will generate 925,000 jobs.
The BCDA has extensive experience in building a city. It is coming from the success of developing the Bonifacio Global City, the country’s most beautifully planned and developed city using the best practices around the world.
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