The Bases Conversion and Development Authority (BCDA) sought the support of the United Kingdom (UK) government and British investors in the financing and implementation of two major sustainability projects in New Clark City in Tarlac province.
“As we now move forward with the next stage of implementation for both projects, we once again urge the government, as well as the private sector in the UK to consider helping us finance and execute these projects to achieve a truly inclusive and sustainable community in New Clark City,” said BCDA president and chief executive Joshua Bingcang.
The BCDA presented investments opportunities in New Clark City during a recent UK familiarization visit that showed keen interest on financing and delivering sustainable infrastructure projects.
The discussions dwelled on the New Clark City Central Park, a 44.8-hectare open recreational space envisioned to become one of the largest public parks in the Philippines, and the proposed 33.89-hectare mixed-income housing project also in New Clark City.
The conceptual plans and feasibility studies for both projects were spearheaded by the UK Foreign, Commonwealth and Development (UK FCDO) under the Global Future Cities Initiatives Programme.
BCDA also met with the Department for Business and Trade (DBT), the UK Export Finance, Infrastructure and Projects Authority, Transport for London, Crossrail International and a few infrastructure companies, real estate developers and other private sector investors.
BCDA took the opportunity to benchmark and study UK’s best practices on sustainable urban redevelopment and transit-oriented developments (TODs).
“This outbound mission served as a venue to learn more about London’s sustainable initiatives, including the establishment of TODs around London’s stations. These will guide us as we pursue our own TODs in Bonifacio Global City and in Clark,” Bingcang said.
Facilitated by the UK FCDO and DBT, the UK business mission helped establish connections between important infrastructure players in the Philippines and the UK, and forged avenues for cooperation between the two countries.
The mission is a follow thorough of the investment roadshow organized by BCDA and UK FCDO in 2022 under the GFC Programme, an initiative that aims to promote inclusive and sustainable economic growth and urban resilience in 19 cities across the world, including New Clark City.