MANILA — Udenna Corporation, the holding company of businessman Dennis Uy, will invest USD6 billion (roughly PHP302.6 billion) in the next 10 years to develop a 179.5-hectare property within the Clark Freeport Zone into a new central business district.
Wilfredo Placino, Udenna Corp. director for special projects l, said the “Clark Global City” development will be bigger than the 143-hectare Bonifacio Global City business district.
“Our masterplanner got five cities in the world and took the qualities of these cities,” he told reporters.
Placino cited Incheon in South Korea which has connectivity, rail, and walkthrough.
“In Chicago, they maintained the greens of the city, we are getting that also. If you go to Paris or Macau, they have an iconic tower. So we put an iconic tower in Clark,” he said.
“They also took Hong Kong and Singapore of the mixed-used (developments). In Hong Kong, you see all the buildings that are practically all connected,” he added.
Placino further said the Clark property is expected to attract locators.
“Of the 179.5 hectares, 47 hectares is being fully developed. We have six-lane roads that is why only 60 percent efficiency. Stoplights are good, our drainage is large and a very good alternative for a disaster-free estate,” he noted.
Placino added that the company targets to conduct a roadshow this January 29.
“We will invite big developers to partake of our master plan… We wanted to develop horizontally, vertically,” he said.