Investors bullish on Clark as growth center

Investors bullish on Clark as growth center

 

CLARK FREEPORT — Developers of a logistics center here on Tuesday expressed confidence about the potential of Clark as the country’s growth center.

Officials of the Global Gateway Development Corporation (GGDC), led by their Chief Executive Officer Mark Williams stressed this during the topping off ceremony for the two towers inside the AeroPark Campus mixed used facility inside the 177-hectare Global Gateway Logistics City (GGLC).

Once completed, the GGLC will generate more than 300,000 jobs and reinforce the status of Central Luzon as an emerging economic hotspot of the Philippines and the whole Asia.

“And it will highlight the potential of the Philippine countryside as a catch-basin of the overflowing vibrancy of Metro Manila,” Williams said.

Some US$100 million dollars were already infused in the project and an additional US$250 million were appropriated for its completion, according to Williams.

AeroPark Campus One West and Two West towers, which are nearing completion, will add 45,000 square meters of Grade A office space and 9,000 square meter of retail space in Clark Freeport, Williams said.

The two buildings represent the first phase of the multi-million dollar AeroPark Campus in the 177-hectare Global Gateway Logistics City in Clark.

“With the addition of new high-quality office space located in a well-designed master planned precinct within the Clark Freeport Zone and directly adjacent to the Clark International Airport, we foresee the Clark Freeport Zone emerging as a new office and logistics hub for the Philippines,” Williams said.

He added that the two new buildings are LEED pre-certified gold, with a target to become platinum, as they were constructed to international green standards. LEED refers to the Leadership in Energy and Environment Design (LEED) international green building rating system.

“GGDC is the same company that built The Medical City Clark’s 173-bed world-class medical center and the first locator in GGLC, a master-planned mixed-use aerotropolis that is the first of its kind in the country.

GGDC was originally founded by The Port Fund, a private equity fund managed by Kuwait firm KGL Investment Company (KGLI) whose investors largely consist of the shareholders of government entities of Kuwait and other GCC countries.

Williams said three more buildings will rise in 2017 at the Aeropark Campus, located just across The Medical City Clark.

The five office buildings will be interconnected by walkways at the second floor, allowing for traffic-free pedestrian movement. Each building in the campus will have 2 floors of retail space meant to service inhabitants of the new city.

The five office towers in the AeroPark Campus will have a combined gross floor area of 142,000 square meters.

AeroPark Campus is a part of GGLC, a 177-hectare fully master planned logistics and business center of excellence that will have 5.8 million square meters of floor space, once it is fully developed.

The project, directly adjacent to Clark International Airport, boasts of superior, world-class infrastructure constructed to internationally recognized standards and quality underground infrastructure (including pressurized water systems, electrical, telecommunications and fiber optic cabling, and oversized storm water drainage systems) that is unique in the country, according to Williams.

“At full buildout, the City will create over 300,000 jobs translating to over US$600 million in annual payroll,” Williams said.

Williams said the topping-off ceremony manifests GGDC’s commitment to the full development of GGLC, which is envisioned to become the most modern city in Southeast Asia.

GGDC plans to transform GGLC into a state-of-the-art commercial and logistics aerotropolis built to the highest environment standards. GGDC has a lease on the property for a period of 50 years, with an option to renew for 25 years.

http://www.sunstar.com.ph/pampanga/local-news/2016/10/18/investors-bullish-clark-growth-center-504368