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Megaworld to develop 550 ha of CDC

[ ] November 30, 2011

Megaworld Corp. said it has signed an agreement with Clark Development Corp. (CDC) for the development of about 550 hectares of land in the commercialized area.

Valued at P7 billion, the project, which will straddle the areas of the Clark Freeport Zone and the Clark Special Economic Zone, is "a mixed-use complex featuring office, commercial, retail, leisure and entertainment, residential and health and wellness components that can cater to foreign and local business process outsourcing locators, retirement communities and tourism enterprises."

CDC president Felipe Antonio Remollo said the project of Megaworld, together with others in the pipeline, is expected to reinforce the Freeport’s reputation as both an investment and tourism destination.

Apart from Megaworld, the other projects identified by Remollo are: the proposed Clark STAR, which stands for Sports, Training, Amusement & Recreation, 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 Clark Highlands, formerly known as the Next Frontier located at the Sacobia Valley, which will cover 10,684 hectares of land adjacent to the Clark Freeport eyed for development into ICT parks, residential, light-industrial, agro-industrial, and tourism and leisure projects.

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