Ben Chan to build office tower in Dennis Uy's Clark Global City
Chan, chairman and chief executive officer of Suyen Corporation, and Uy's Global Gateway Development Corporation inked a memorandum of agreement for a sublease of the latter's 177-hectare leasehold within the Clark Freeport Zone in Mabalacat, Pampanga.
While known for its fashion brand, Suyen also has business interests in properties, most notably the high-rise Bench Tower in Bonifacio Global City.
"We're bullish on the Philippine economy and seeing how it's slowly but surely extending to key cities outside of Metro Manila," Chan said.
Clark Global City, a former military base positioned to be the Philippines' next big metropolis, is expected to decongest Metro Manila.
It is located in a freeport zone and will be linked to major infrastructure developments such as the expansion of the Clark International Airport, NLEX-SLEX Connector Road, Subic-Clark Cargo Railway, and PNR North Railway.
Clark Global City will have office buildings, retail outlets, academic centers, sports centers, an urban park, and an integrated resort and casino.
"Its sophisticated design addresses common issues such as pollution, traffic, and disaster preparedness, making Clark Global City, in not so many words, an ideal place to put down roots," Chan said.
Uy previously signed agreements with SM Prime Holdings and Century Properties for other properties in the area. – Rappler.com