Wednesday, December 16, 2015

Clark Green City to start construction in 2016

Pegged to cost P1.7 trillion in total, Clark Green City (CGC) is set to begin construction this year, according to the BCDA.

A government instrumentality, the Bases Conversion and Development Authority (BCDA) stands as the estate's owner and developer. BCDA is set auction parcels of the estate -- at 9,450 hectares in total -- to local developers looking to raise projects on the former military base. Leading developers Ayala Land Inc., Filinvest Land Inc., and Megaworld Corp. purchased bid documents earlier this year. 

Spanning vast tracts of land in Tarlac and sections of Pampanga, CGC is pegged to turn into a disaster-resilient metropolis with environmentally sustainable design, hence the name, "Clark Green City."

Arnel Casanova, BCDA president, explained that "Clark" was used instead of "Tarlac" due to its name recall.

"We adopted the name Clark because it will be easier for us to sell," said Casanova. "Clark is already known worldwide among many investors."

"At full development, Clark Green City will have some 1.12 million residents, 800,000 workers and contribute a gross output of approximately $34 billion a year to the national economy, or roughly a 4-percent share in the country’s gross domestic product," stated Casanova.

"It can be also a hub for international ports because we have Subic for a seaport and Clark for an airport. The need to build a new city stems from the projection that the Philippine population will reach a high of some 130 million with about 100 million living in the cities by the year 2030," added Casanova.

CGC is located 120 kilometers north of Metro Manila via the North Luzon Expressway (NLEX) and 90 kilometers from Subic Bay Freeport, via the Subic-Tarlac-Clark Expressway (SCTEX).

President Benigno Aquino III is expected to lead groundbreaking rites in 2016.


Previous Next

Share
Email

Top Articles

Small spaces: Decor t...
Need a little more leg space in your living room? Use scaled-down sofas, arrang...
Home decor: Tips to c...
Even if you’re on a tight budget, it’s possible to completely transform a room ...
Buying Lots in Valenz...
Our partner is buying several properties in areas in Valenzuela, Quezon City, B...
Tips for designing th...
With imagination and clever design, you can encourage your family to spend more...
Buying Lots in QC, Va...
Our partner is buying several properties in Quezon City, as well as the cities ...
More property news...