Over P20B-worth tourism, mixed-use complexes to rise in Clark

MANILA, Philippines – At least P20 billion-worth projects, including a mixed-use complex by Megaworld, are set to take off next year in Clark, reinforcing the reputation of the former US military base as an investment and tourism destination.

On Nov. 29, Tan-led Megaworld Corporation told the stock exchange that it has signed a memorandum of agreement with the Clark Development Corp to develop a portion of the sprawling property at the Central Luzon area.
 
According to Felipe Antonio B. Remollo, president of the Clark Development Corporation, the five new projects lined up for 2012 are:

1. Megaworld’s mixed-use tourism complex at a 400-hectare area between the Clark Freeport Zone and the Clark Economic Zone
At least P7 billion will be invested for the construction of office, commercial, and retail spaces with leisure, residential, health and wellness components.

2. The Clark STAR project on a 200-hectare area at the sprawling Clark Highlands
STAR stands for Sports, Training, Amusement & Recreation. It will feature a transport terminal, wakeboarding complex, soccer stadium, hotels and villas, athletes’ dormitories, nature and theme park, swimming center, boulevard and promenade, and athletes’ training ground.

3. Clark Highlands on a 10,684-hectare at the Sacobia Valley
Formerly known as the Next Frontier, the project will sit on a land adjacent to the Clark Freeport. It will have ICT parks, residential, light-industrial, agro-industrial, and tourism and leisure projects.

4. The $200-million tourism and golf course projects of Korean firm Donggwang Clark Corp at the main zone of the Freeport.
On a 304-hectare property, Donggwang will build a tourism complex with residence villas, water theme park, and various amenities. These will complement a 10-storey office and residential building, as well as the Clark Sun Valley Golf Course, which is expected to be complete by April 2012.
 
5. The corporate headquarters of the Clark Development Corporation
Expected to be complete by April 2013, the new headquarters will consolidate the agency’s various offices now in nine separate buildings and structures. The first two floors will be leased out as  commercial spaces.