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Megaworld leads Clark investments

[ ] November 23, 2011

THE Clark Development Corp. (CDC) expects at least five new projects to take off by 2012 led by Megaworld Corp.’s sprawling mixed-use 400-hectare project valued at P7 billion, CDC president Felipe Antonio B. Remollo said.

Remollo said these projects are expected to reinforce the Freeport’s reputation as both an investment and tourism destination.

Megaworld’s mixed-use project located between the Clark Freeport Zone and the Clark special economic zone involves the construction of a mixed-use complex that features office, commercial, retail, and leisure, residential, health, and wellness components at a development cost of at least P7 billion.

The second project will occupy another 200 hectares.

The proposed Clark STAR, which stands for Sports, Training, Amusement & Recreation, is located at the sprawling Clark Highlands and is being groomed as a site for 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.

The third project, meanwhile, is the Clark Highlands, formerly known as the Next Frontier located at the Sacobia Valley. It covers 10,684 hectares of land adjacent to the Clark Freeport which will be developed into ICT parks, residential, light-industrial, agro-industrial, and tourism and leisure projects.

In April next year, Korean firm Donggwang Clark Corp. is expected to complete its $200-million dollar tourism-related project, which includes the Clark Sun Valley Golf Course located at main zone of the Freeport.

With the groundbreaking of this fourth Clark project, Donggwang is poised to be the new leader in tourism complex and golf course construction in the Philippines, Remollo said.

According to Remollo, the Korean firm will create a 304-hectare tourism complex with residence villas, water theme park, and various amenities. Complementing this is a 10-storey office and residential building – the biggest of its kind inside Clark.

While Tower 3 of Donggwang’s officetel is already complete, February 2012 will see the completion of two of its other structures – Towers 1 and 2, said Remollo.

Expected to be completed by April 2013 is the proposed CDC Corporate Building, which will consolidate the various departments and offices in one modern, environment-friendly structure.

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