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Clark City emerging as next Fort Bonifacio

By Othel V. Campos | May. 30, 2014 at 12:01am [ ]

A real estate advisory firm described the Clark City project of Bases Conversion and Development Authority in Pampanga as the “next Fort Bonifacio” in terms of real estate development.

“With quality labor pool, developing infrastructures, economic incentives, and improved air and land accessibility, growth and expansion opportunities in the area are seen in the coming years, making it one of the most excellent real estate prospects today. We see Clark as the next Fort Bonifacio,” CBRE founder and chairman Rick Santos said during a news briefing at the Shangri-La Hotel in Makati City.

Clark, a former US military base, proved to be more than just a part of the Philippines’ history, as it now home to a number of industries that contribute to the growth of Central Luzon, the real estate advisory firm said.

It said high accessibility via modern tollways and proximity to the Clark International Airport made Clark an ideal investment and development area for local and foreign investors.  Clark is also a part of the third largest business process management market in the country.

CBRE said with an expected growth of 1.3 million direct employment by 2016 and the scarce vacancy in the country’s metro central business districts, business processing sector’s growth was reaching towards areas such as Clark.

“From bases to BPMs, Americans return to Clark for business process outsourcing, call centers, and other ventures. As the sectors expand—especially that of the BPM, we see more developments in other real estate fronts such as residential and retail, also picking up its pace to meet the demand. Mixed-use developments and other projects that will cater to this are under way,” said Santos.

Santos said Clark would contribute significantly to the growth of the BPM sector to reinforce the Philippines as “the call center capital of the world.”

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