Home Business DAVAO-BASED FIRM BULLISHNew center of business, life, innovation up at CGC

DAVAO-BASED FIRM BULLISH
New center of business, life, innovation up at CGC

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CLARK FREEPORT – The Udenna Group of Davaobased businessman Dennis A. Uy is bullish with its property development here anchored on the rapid growth of the Clark International Airport (CIA).

During a press launch on Tuesday at its 177-hectare prime property adjacent to the CIA now called Clark Global City (CGC) here, Uy said Udenna is advancing the expansion of what it envisions to become “the new center of business, life and innovation” in the Philippines.

“We are developing what will become the Philippines’ new center of business, life and innovation,” said the Udenna chairman and CEO.

“Clark Global City will off er a global business destination and spur economic transformation outside of Metro Manila, complementing the government’s efforts to spread growth across the country,” Uy declared.

Architect Jojo Tolentino, who master planned the development, said at present, 47 hectares of the 177-hectare development have been fully completed with worldclass horizontal infrastructure built to withstand 100-year storm events.

Completed vertical infrastructure within CGC includes the 173-bed hospital under The Medical City brand and two top-grade office buildings with 57,000 square meters of leasable office and retail space.

“We believed we live now in the era of innovation,” Tolentino said.

“And so part of our take-off point is that every great economy has a great city and the city that is ready to meet the needs of today and for the future is Clark Global City,” he explained.

The fast-growing conglomerate has now completed the master plan of the 177-hectare prime property development it acquired last year.

Free bus service Evan McBride, chief financial officer, said a 24-hour free bus service has started ferrying passengers daily to the CGC from nothing just a few months ago.

With more than 4,000 workers reporting for work daily, CGC is now a beehive of activity, he noted.

The CGC will host top-grade office buildings, up-market retail outlets, contemporary academic centers, sports centers, an urban park, an iconic tower, a hotel and casino, and modern support services and amenities.

Freddie Plasino, Udenna vice chair and managing director, said prospective local and foreign locators may sub-lease lots, lease buildings and structures or lease office, commercial and parking spaces.

Plasino revealed that talks are already underway with nine leading local companies and plans are afoot for an international roadshow to entice foreign companies.

Meanwhile, Uy said, “Clark Global City’s location within a special economic zone and near major thoroughfares along with the pool of diverse talents that abound the region make for a global business destination.”

Situated within this freeport, the development offers the benefits of an ideal regulatory, economic and operating environment.

Access

CGC also offers direct access to the Clark airport, which sits about 7.5 kilometers or 10 minutes away. The new Clark airport terminal that is now undergoing construction will have a direct link to the existing road leading to the development.

Prospective locators are also seen to further benefit from the completion of the NLEx- SLEx Connector Road, the Subic-Clark Cargo Railway and PNR North Railway in the next two to three years.

The planned PNR North Railway will create access to a bigger talent pool. The mass transportation system designed to carry 350,000 passengers daily will link the National Capital Region and Central Luzon which is home to 11.58 million people.

It was learned that outside of Metro Manila, the Central Luzon region has the highest number of college graduates in its labor force numbering to 7.8 million.

The mixed-use development forms part of Udenna’s growing property portfolio that includes a $300-million integrated resort and casino in Mactan, Cebu and an office tower in the Bonifacio Global City.

“We hope Clark Global City will help pave the way for more companies in various industries to invest in the Philippines and, subsequently, create more employment opportunities for Filipinos,” Uy said.

The CGC is a wholly owned subsidiary of Udenna Development (UDEVCO) Corp., the real estate and property development arm of one of the fastest-growing holding companies in the Philippines – Udenna Corporation.

Incorporated on March 19, 2002, Udenna is at the helm of the diversified business interests of the Udenna Group in petroleum and oil through Phoenix Petroleum; shipping and logistics through Chelsea Logistics; real estate through Udenna Development; education through Enderun Colleges; and infrastructure through Udenna Infrastructure, among others.

The Udenna Group has exponentially grown for over 15 years. It successfully listed Phoenix Petroleum Philippines, Inc. and Chelsea Logistics Holdings Corp. on the Philippine Stock Exchange in 2007 and 2017, respectively.

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