Scramble for Clark Properties as Government Announces "Changi-Like" Airport for Clark
Clark sees new light in promoting investments in the township as the government awards the winning bid to the North Luzon Airport Consortium (NLAC), a consortium between JG Summit, Filinvest, and Changi Airport Philippines, the local subsidiary of Changi Airports International operating the world famous Singapore Changi Airport. The new Clark Airport project is in line with the Duterte Administration's Build, Build, Build program.
While the consortium will not build the terminal, the contract has been awarded to the GMR-Megawide consortium also operating Mactan-Cebu International Airport, the expertise of the Changi group in operating a world-class airport could improve airport services, ranked by Skytrax as the world's best airport for six consecutive years.
As the new terminal is foreseen to increase passenger capacity by 12.2 million from the current 4.2 million, the winning consortium has so far allotted PhP 6 billion for the whole project, which includes equipment, management of commercial spaces, and other technologies that will help in easing passenger comfort and safety. The airport is projected to at least be able to handle 30% of Ninoy Aquino International Airport's current traffic.
Meanwhile, the successful bid also secures the role of Clark as the country's next government center, business district, and the next premier gateway, ahead of the upcoming 2019 Southeast Asian Games to be held in a newly-built government sports complex not far from the current airport. Last year, Davao-based property developer, Udenna, announced its 10 year plan to develop Clark Global City, which includes building malls and hotels.
*PropertyAccess Philippines recognizes the role of Clark, especially Clark Global City, in revitalizing the country's image as a business and investment hub. Our website includes listings and investment opportunities for foreign investors wishing to invest in this new high-growth area.