Global
Michael Russel, president of Global Gateway Development Corporation (GGDC), said the infrastructure development of the Duterte administration, will benefit Clark Freeport.
According to Russel, this will further strengthen the Freeport’s investment potential particularly the Global Gateway Clark (GGC), a 177-hectare mixeduse estate inside this former US-run airbase.
The American businessman said the government’s “Build, Build, Build” mantra strengthens the potential of the Freeport as an investment hub. “President Duterte is rightly prioritizing infrastructure. We are very very pleased,” he said.
Russel said GGC has earmarked $45 billion for the development of a world-class economic hub for a seven to ten year build out. He expressed optimism that the return of investments will be good for the firm which is expected to employ more than 300,000 once fully operational.
He said that American investors in Clark are not wary of President Trump’s recent pronouncements on encouraging businesses to return to US mainland as Trump vowed to “cut regulations and taxes to make it more attractive for businesses to operate in the US.”
The potential of Clark as a viable investment destination remains, said Russel. “We will stay in this Freeport to fulfill our vision.”
The GGDC praised the CDC and Clark International Airport Corporation (CIAC) for what he described as business-friendly environments.
“I am telling the investors that the Philippines, especially Clark Freeport Zone, has a huge potential and ‘right’for investment,” Russel said.
CDC President Noel F. Manankil welcomed the developments in GGDC area.
Manankil said he is optimistic that more investments and more jobs will be generated by the firm.
Being referred to as the Bonifacio Global City of the north, GGC (formerly known as Global Gateway Logistics City), is now the top priority location for some of the biggest local and international companies.
Russel said that GGDC is the solution to some of Metro Manila’s economic problems like over population, traffic and airport congestion.
GGC is completely livable, disaster-ready and designed to accommodate multinational corporations like airline companies, business process outsourcing (BPO) firms, healthcare industries and transportation facilities essential to a modern day city.
Once completed, the logistics hub will be divided into four zones — Aeropark, Business Park, Town Center and Logistics Park.
The twin towers inside its aeropark is being sold at a fast pace, according to Russel.
About 50 percent of the combined 57,000 square meters of office and retail spaces have already been committed to future lease by prospective investors. The two buildings are set for completion in July this year.