Global Gateway Development Corp. of businessman Dennis Uy has teamed with Century Properties Group Inc. to develop a portion of its 177-hectare property in Clark into a mixed-use development.
GGDC said in a statement both parties signed an agreement to create a joint venture that would build a mix of residential and office buildings with support retail establishments within a 2.6-hectare lot.
“We are delighted to welcome Century Properties as another key partner in developing the country’s new center of business, life and innovation,” GGDC chairman Dennis Uy said.
“This is in line with our strategy to fast-track the development of Clark Global City. By joining forces with the country’s leading local developers, we can sooner unlock the potential of Clark Global City, expand our economy’s capacity, nurture businesses and generate more employment opportunities,” he added.
It is CPG’s first development in Clark, a former military base currently being transformed into the country’s next big metropolis and being primed as the answer to Metro Manila’s congestion.
“We are proud of this joint-venture partnership with GGDC and we look forward to sharing our expertise from 33 years in the real estate business and bringing our experience from past successes to this project,” CPG chairman and chief executive Jose Antonio said.
“Century Properties is one with GGDC’s vision of building a green and efficient model city in the North. Our new project together will certainly make a great addition to Clark Global City’s iconic master plan. We are very optimistic about the growth of Clark as the country’s premiere aerotropolis and we hope this is only the first of a series of projects.”
The real estate company is banking on the phenomenal growth of Central Luzon, which has the highest number of occupied housing units, and Clark, which has emerged as the second largest market for office after Metro Manila.
“We believe in the vision for Clark Global City as the premiere address in the North,” CPG chief operating officer Marco Antonio said.
“As massive infrastructure projects are underway to make Clark connected and highly accessible, Century Properties wishes to ride on this growth momentum by serving the real demand in the office and residential markets.”
Clark Global City will host top-grade office buildings, up-market retail outlets, contemporary academic centers, sports centers, an urban park, an iconic tower, in integrated resort and casino, and modern support services and amenities.