Clark Green City takes position as magnet for foreign investments

Clark Green City is posi- tioning itself as an investment magnet for the country as more foreign investors are expressing interest to be part of the development of the new metropolis, state-owned Bases Conversion and Development Authority (BCDA) said.

In an interview yesterday, BCDA president Arnel Paciano Casanova said the agency is in talks with investors from different countries which have expressed interest in Clark Green City.

“Before the elections there was much interest coming from Japan, from Singapore, and even from Europe, particularly France. We are also encouraging the US to further increase their investments in Clark,” he said.

Casanova said BCDA is more optimistic in finalizing agreements with these companies and government-owned corporations now that the elections are over and the new administration has settled.

“After the elections and now that everything is settled then we would pursue talks again and encourage these investors to come in and participate in Clark Green City. Hopefully we come up with an agreement in the next few months,” Casanova said.

“We’re very positive because President Duterte’s advocacy is development outside the capital. So in spreading the development outside Metro Manila, Clark Green City is the next best thing that could happen in this development with the scale, the kind of technology we’re putting in, and the kind of investments we’re bringing in which is global in scope,” he added.

According to Casanova, Singaporean investors are looking at industrial estate development and urban development for Clark Green City, while those from France are eyeing investments in logistics, food and agriculture.

Clark Green City is a 9,450- hectare development expected to be the country’s first smart, green and disasterresilient metropolis.

At full development, the metropolis is targeted to 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 gross domestic product.

BCDA is initially working on the development of a 288- hectare parcel of Clark Green City with local property giant Filinvest Land.

Casanova said the timing of the bidding for a new portion of land would depend on market condition as BCDA’s sights are currently focused on the success of the initial 288-hectare development.