CLARK NAMED AS ONE OF PH’S MAJOR AREA FOR OFFICE SPACE

Clark Freeport was cited as the second major office space market in the country, according to an industry executive.

During the Philippine economic briefing, Clark Global City chief investment officer Evan McBride cited Leechiu Property Consultants (LPC) in saying that Clark ranked second among the most preferred of- fice 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 Corp. (CDC) and Clark International Airport Corp. (CIAC).

Among the presentors in the event were Udenna Corp., which is now developing a 177ha area in Clark; and Megawide Construction Corp., which is constructing Terminal 2 at the Clark International Airport, which can accommodate 8 mil- lion passengers a year.

Clark surpassed Cebu, which previously held the position as the country’s second major area in terms of office space market in the past 10 years.

Data from LPC showed that from January to September, Clark reached 111,000 sqm for office space transactions, surpassing Cebu with 76,000 sqm for de- manded office area. This represented eight percent of the overall transaction in the country.

Other locations included in the list were Iloilo, Cavite, Nueva Ecija, Davao and Rizal. Metro Manila was named the highest office market with 1.1 million sqm.

McBride said the strategic location of Clark, with its connectivity and infrastructure, makes it an ideal investment destination.

“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 added.