CLARK FREEPORT—A premium mixed-use development is joining Clark’s roster of premier hospitality establishments, strengthening the freeport’s award-winning business tourism industry.
Clark Development Corp. and South Korea’s Luxia Corp. sealed the deal on March 24 at the Clark Visitors Center, committing P4.4 billion to Clark’s MICE (meetings, incentives, conferences, and exhibitions) economy. The lease will provide a 20,000 sqm lot along Creekside Road for a high-end mixed-use development featuring a hotel and serviced apartments.
“We are considering this as one of the best projects to show that there are very good economic relations between the Republic of Korea and the Republic of the Philippines,” said CDC president and CEO Atty. Agnes VST Devanadera, noting the development signals a big turn in Philippine-Korea business relations, strengthening bilateral trade agreements by President Ferdinand Marcos Jr. and South Korea President Lee Jae Myung last March 4.
“Finally, we have this. We’ve been looking forward to this, we’ve been working on this, with extra efforts in determining how we can help one another and how we can put up one stone to another,” she added.
Luxia Corp. is a subsidiary of Luxia Holdings, Inc., a Seoul-based upscale property developer. Luxia CEO Chae Ji-won, Luxia managing director Kim Moonhyun and J. Partners and Architects director Paul Bae attended the signing.
Bae, who is an award-winning principal architect for a Luxia development in Seoul, said the property will “bring specialty and excellence of high-end residences to Clark.”
“We think Luxia will be the catalyst. It will be the bridge taking Clark to the next level, providing high-end residences, a premium hotel, hospitality, and retail,” Bae said. CDC-PR
