THE Gotianun family-led Filinvest Development Corp. (FDC) will spend P20 billion in five years to develop its properties in the Clarkfield corridor in Pampanga.
Josephine Gotianun-Yap, FDC president and CEO, said the amount includes its investments in New Clark City, a 288-hectare property in the former US military camp it is developing into an industrial estate and what it called a smart city.
“The investment of P20 billion is for all the different projects we have allocated for Clark’s corridor,” Gotianun-Yap said during its groundbreaking ceremonies for the first phase of New Clark City, in the Capas, Tarlac, side of the sprawling property. Aside from the development, it will also earmark for the Mimosa estate and the Clark International Airport.
“It will bring in a lot of employment because it will serve as an economic base of the New Clark City. Its primary purpose is to bring in a lot of jobs for the people of Capas, as well as in the Clark corridor,” she said.
“As we break ground on Phase 1 of the Filinvest innovation and logistic park, we bring to New Clark City the same passion and clear vision our townships like Filinvest City stand on to build economically and environmentally sustainable platforms that enliven and enrich the lives of its locators, residents and visitors.”
Vicencio Dizon, president and CEO of the Bases Conversion and Development Authority (BCDA), said the development will not compete head-on with Clark Global City, a development led by businessman Dennis Uy, as that is more focused on aviation-logistics park.
The Filinvest development is more focused on the industrial park for the initial phases. It stands to create up to 1 million jobs in about 25 years when the development matures. ”Filinvest is one of BCDA’s pioneer and integral partners in New Clark City, as we share the vision of creating opportunities in a modern, smart, and green metropolis. We look forward to seeing this new project come to life,” Dizon said.
In 2015, Filinvest was the lone bidder for the said development, then known as Clark Green City, which the Gotianun family will codevelop with the BCDA.
The master plan includes 100 hectares for the industrial park, and the rest will be for mixed-use development complete with residential, office and institutional uses anchored by an innovation and logistic park.