More than CRK: LIPAD to develop an Aerotropolis
CLARK FREEPORT--With the construction and the move to operationalize Clark International Airport’s (CRK) New Terminal Building underway, the Luzon International Premier Airport Development Corp (LIPAD) is also working on transforming its project land inside the Civil Aviation Complex into a bustling aerotropolis.
Aside from the Operations & Maintenance of the Clark International Airport, part of LIPAD’s 25year concession agreement with the government is to manage and develop the more than 800 hectares of project land within the Clark Civil Aviation Complex, which includes both airside and landside ar eas.
The development of the airport and the said project land is in accordance with the master plan and feasibility study of Aeroport de Paris Ingenierie (ADPI) completed in 2013 and pursued through a grant by the French government. As part of its commitment, LIPAD will update the said Master Plan. Project Development is planned to start once the masterplan has been approved by appropriate government agencies in 2021. The phasing of the masterplan will consider the duration of LIPAD’s 25 year concession period.
“Just like its vision for CRK, LIPAD envisions to transform its project land to be a premier mixed-use township destination North of Manila - an aerotropolis that integrates logistics, general aviation, and tourism to work, lifestyle, and leisure with CRK as the center and key component of this development” said Bi Yong Chungunco, LIPAD’s Chief Executive Officer
According to Chungunco, LIPAD plans to leverage on the combined commercial wealth experience of its consortium members as they are closely working with Filinvest Development Corporation and Robinsons Land Corporation for the planning. The planning team already began engagements with government agencies as well as inception and market studies around LIPAD’s project land in Clark Freeport Zo n e.
The project development is also seen to open up diverse business opportunities both for local and international investors as well as create jobs for the Kapampangans in the future.
Luzon International Premier Airport Development (LIPAD) Corporation is a special purpose company established to manage the operations and maintenance of Clark Airport. The members of LIPAD Corporation are Filinvest Development Corporation, JG Summit Holdings Inc., Philippine Airport Ground Support Solutions Inc. and Changi Airports Philippines (I) Pte. Ltd., a wholly owned subsidiary of Changi Airports International.
The consortium members each has vast experience in airport operations, air transportation and property development. LIPAD Corporation has committed to bring in this expertise to transform Clark International Airport to a world-class airport.
( PR)