Clark in Pampanga is now considered a top destination for companies to locate in, according to the recent real estate market report by Leechiu Property Consultants (LPC).
In LPC’s September report, it said Clark is now the second largest market for office take-up after Metro Manila, with 111,000 sq.m or 10 percent of the 1.08 million net office take-up in the Philippines. Metro Manila accounted for 74 percent at 799,653 sq.m. Clark even exceeded Cebu by more than 30,000 sq.m.
LPC President David Leechiu recognized the improved investor climate in Clark, saying that the business process outsourcing or BPOs have already developed a market in the area.
The LPC President also noted Clark Global City, a 177-hectare estate owned by Dennis Uy’s Udenna Corp., in providing world-class office buildings.
He said the property could boost investments in Clark especially with LPC’s report that IT-BPM (Information Technology and Business Process Management) and Offshore Gaming industries took up more than 120,000 sq.m of office space outside Metro Manila.
Bases Conversion and Development Authority (BCDA) President and CEO Vivencio Dizon said that Clark is gaining traction because of the current developments in the area, making it a viable place for companies to set up or expand in.
“This is only just the beginning for Clark,” Dizon said. “Central Luzon will continue to grow with the expansion of the Clark International Airport, the construction of railways, and the establishment of New Clark City.”
These high-impact projects are part of the Build Build Build Infrastructure Program which are expected to spur growth and investments in the countryside and provide massive transport system for the people. The Clark International Airport will soon accommodate an additional 8 million passengers per year upon completion of the expansion project in 2020. Meanwhile, a 106-kilometer railway will cut down travel time from Manila to Clark in an hour from the current two to three hours travel time.
Developments in New Clark City are also in full swing with the construction of the National Government Administrative Center that will house the Athletics Stadium and Aquatics Center, which will be used for the 2019 Southeast Asian Games. Envisioned to decongest Metro Manila, the government center will also have satellite government offices to ensure efficient delivery of services during major calamities. As of September this year, construction of the 40-hectare Phase1A of the government center is 30 percent complete and is ahead of schedule.
