Business and Economy
New Clark City lures P143-B investments
By Kris Crismundo, Philippine News Agency
NEW METROPOLIS. A condominium development at the New Clark City in Capas, Tarlac in this undated photo. The Bases Conversion and Development Authority said Friday (July 12, 2024) the new metropolis north of Metro Manila has attracted PHP143.22 billion worth of investments since its masterplan was finalized in 2017. (PNA photo by Kris M. Crismundo)
CAPAS, Tarlac – Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer Joshua Bingcang said the New Clark City has attracted PHP143.22 billion worth of investments since its masterplan was finalized in 2017.
During the Build Better More Infrastructure Forum here Friday, Bingcang said these investments have the potential to generate 103,000 jobs.
“Some PHP15 billion were already infused,” he said.
Specifically, PHP15.92 billion were already invested in the new metropolis in Central Luzon.
This means PHP127.3 billion worth of investment commitments are expected to be poured in the next years.
New Clark City is BCDA’s flagship project that covers over 9,450 hectares of land, envisioned to be the country’s first smart, green, and resilient metropolis.
