Clark, Pampanga—The Build Better More infrastructure development program of the Marcos administration is a perfect complement to the private sector’s aggressive investment initiatives in catapulting Clark into a more progressive economic zone.
In the recent Talakad: Central Luzon’s Economic Rise” forum organized by Colliers Philippines in partnership with Hann Resorts held at the Marriott Clark, Joey Roi Bondoc, research director of Colliers Philippines told the audience that the Clark Freeport is expanding its industrial footprint brought by the massive infrastructure projects in Central Luzon. “Central Luzon is the biggest beneficiary of the infrastructure spending by the government,” Bondoc said.
The New Manila International Airport, Skyway Stage 3, North Luzon Expressway-South Luzon Expressway connector road and the Manila-Clark Railway are some of the big ticket projects in Central Luzon. “Aside from these infrastructure projects, Central Luzon, particularly Pampanga, is attracting a lot of investors because 60 percent of its population belonging to the 15 to 64 age group is gainfully employed.
With a current capacity of 8 million from 4 million prior to its modernization,Clark International Airport Corp. President Joseph Pascua Alcazar said the Clark International Airport is going to be a catalyst to develop a more dynamic retail landscape in the Central Luzon region in the years to come.
A key investor Clark
Rodem Perez, AVP for Business Enhancement, Clark Development Corp. (CDC), pointed out that the Hann group is a big investor and key contributor to the growth of tourism in Clark City. Furthermore, he said revenues generated not only by the locators and tourists coming in has helped a lot in making Clark Freeport a lucrative investment area.
As of 2023, 16 Singaporean firms operate within Clark, contributing a total investment of $139.92 million and employing over 1,600 individuals.
These investments span various sectors, and the Philippines is actively looking to further enhance economic ties with Singapore in the Clark region.
Kenneth Peralta, vice president for promotions, investment promotions and marketing of the Bases Conversion and Development Authority (BCDA) said transitioning from leasehold to landhold would attract more investors to locate in the special zone. “With the recent approval of Senate Bill 2647 and expected to be implemented in the next session, it will open a lot of opportunities for investments,” Peralta said.
Furthermore, he said the lease act up to 99 years passed by Congress could spur investments in economic zones like Clark. “We need more investors, more tax breaks because we have to stay ahead of the competition,” Peralta said.
Making a difference in Clark
As far as Hann Philippines is concerned, it is undertaking substantial investments, including the $250-million Hann Casino Resort expansion, the Hann Reserve Development featuring multiple luxury hotel brands (Banyan Tree, SO/, Sofitel, Emblems by Accor, and the Hann Reserve Public Park.
These developments by Hann Resorts significantly contribute to the investment landscape of Clark Freeport Zone and New Clark City, making it an attractive destination for both local and foreign investors, including those from Singapore.
More room for expansion
Meanwhile, Hann Philippines Vice President for Real Estate and Property Development Agnes Liwanag said there is more room for expansion in the 21-hectare property, the only integrated luxury resort in Central Luzon. “The opening of the P8 billion 3,588-square-meter Canyon Casino is in response to the huge demand from the gamers. Basically, this is an expansion of the current casino. This would bring more gaming spaces to our guests,” Liwanag told the audience during the forum.
Liwanag said the project is currently under construction. Target completion for the first phase is the end of 2025 while phase two of the project is to be completed in the first quarter of 2026.
“Hann Philippines Inc. is a significant driver of economic growth in Central Luzon through its portfolio of luxury integrated lifestyle resorts. The established Hann Casino Resort in Clark Freeport Zone generates considerable tourism revenue and employment opportunities. Furthermore, the expansive Hann Reserve in New Clark City is projected to amplify these economic benefits by attracting substantial investment and high-value tourism with its world-class amenities, including championship golf courses, international luxury hotels, a commercial center with a casino, and exclusive residential offerings, all while emphasizing sustainable development principles,” Liwanag pointed out.
Finally, Department of Transportation spokesperson for business infrastructure Maricar Bautista said public-private ownership projects, currently numbering 187 in the pipeline. Secretary Vince Dizon said the private sector has the expertise in building the projects. “The key is collaboration,” she said.
Author: Rizal Raoul Reyes
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