Clark Development Corp. president and chief executive Agnes Devanadera unveiled Thursday a P12-billion masterplanned medical hub project in Clark Freeport.
Devanadera said Bloomberry Resorts Corp. through Bloomberry Cultural Foundation Inc. would fund the first building amounting to P1 billion.
“The first building costing P1 billion will be funded by Bloomberry Foundation, the foundation arm of Solaire casinos,” Devanadera said at the culmination of the 49th Philippine Business Conference at Manila Hotel.
The President already visited the site which will house basic and common facilities like pharmacy, emergency sections, finance and administration offices, among others, she said.
CDC is donating 5.72 hectares of land where several medical specialty buildings are expected to rise within the next few years.
BCFI will release the first P500 million this year to fund the initial construction phase of the first building and another P500 million next year.
Devanadera said the first building will be funded from BCFI donation, while CDC is open for more contributions from interested funders.
Interested companies will have to follow the masterplan drafted and financed by BCFI, she said.
“What is good about the masterplan is that as they build the first building, other specialty areas will be opened. This is their CSR [corporate social responsibility],” she said.
The Philippine Amusement Gaming Corp. requires all casinos to create and implement individual CSRs using the profit generated from casino operations.
Devanadera said the project will be good for CDC as it would attract more investments while providing quality care to communities and people within the Clark periphery.
She said two more buildings are in the pipeline, including the Medical Arts building where private practitioners are encouraged to set up clinics and offices.
The Department of Health (DOH) is expected to contribute to the construction of the second building.