PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .

IFC backs Clark City

By Othel V. Campos | Mar. 11, 2015 at 11:30pm [ ]

New metropolis in Pampanga

State-owned Bases Conversion and Development Authority said it is in talks with International Finance Corp., the private sector investment arm of the World Bank, to assist in developing the plans for the Clark Green City project.

The Clark Green City project, which covers some 9,450 hectares in Tarlac and Pampanga, is envisioned to be the country’s largest property development.

Clark Green City aims to be a modern metropolis with a mix of residential, commercial, agro-industrial, institutional and information technology developments that will follow green standards, such as green building codes, low-carbon footprint and respect for the ecosystem.

IFC will work with the BCDA in determining the business case for key utility services, such as power generation, power distribution, water supply distribution and sewerage services and solid waste management.

The need for a new metropolis is driven by a growing population and the rapid urbanization of Metro Manila, BCDA, the developer of the project, said.

IFC recently worked on the Clark Water project with Clark Development Corp., the Agriculture Department and Land Bank of the Philippines for the grains central project.

It has been providing advisory services on public-private partnership in the Philippines since 1996, including the privatization of the Metropolitan Water and Sewerage System concessions, and has been active in facilitating private investments in off-grid generation in Marinduque, Romblon, Tablas, Masbate and Basilan.

BCDA earlier said Aecom, an American engineering and architectural design company, won the open competition for the best optimized design for Clark Green City’s conceptual master development plan.

Aecom’s design bested four other designs submitted by top international and Filipino architectural companies for the Clark Green City project.

Aecom’s optimized design for Clark Green City projected some 1.12 million residents and 800,000 workers.

“The design provides a complete mix of uses. It creates economic vibrancy and at the same time balances it with natural sustainability,” said BCDA president and chief executive Arnel Casanova, who headed the panel of judges for the competition.

real estate central philippines
Copyright ©2008-2018