Clark was featured as a model city during the 2021 Urban Land Institute Asia-Pacific Summit with the organization hailing it as a smart, green and disaster-resilient metropolis. Real estate and land use professionals from around the world were given a virtual tour of Clark’s various investment and tourism facilities as well as learning about masterplans for the Clark International Airport, New Clark City and the Clark Freeport Zone.
The long-running summit champions innovative and unique urban developments in the region. Burwood Brickworks in Australia, Taikoo Place in Hong Kong and Otemachi-One and Toranomon Hills Mori Tower in Tokyo were also featured during the 2021 Urban Land Institute Asia-Pacific Summit.
The transformation of Clark into a global business hub was highlighted during the virtual tour. The area currently hosts more than 1,220 firms with major corporations, including Texas Instruments, Samsung, Yokohama and UPS International, now having a base in the city.
“One of our key objectives is to help transform Clark Freeport Zone into one of the major drivers of Philippine economic growth within the next 25 to 50 years, making it a prime model for other economic zones. It has the necessary geographic advantages and ecological assets to become one of the models of emerging smart cities in Asia-Pacific region,” Felino Palafox Jr., principal architect and urban planner of Palafox Architecture Group told the SunStar Pampanga.
Infrastructure spurs growth of the Clark real estate
The Clark real estate market has benefited from the government’s focus on infrastructure during the past few years. Among the most notable projects has been the new terminal at Clark International Airport which doubled the facility’s capacity.
In the coming years, Metro Manila will be connected to Clark International Airport and New Clark City by the PNR North 1 line. Construction on PNR Clark Phase 1 is nearly 50 percent complete and should be ready in 2024. The rail and air links provide new opportunities across the Clark real estate market.
“There are huge opportunities in Metro Clark for all sectors of property. With Metro Clark as a hub, real estate investments are set to expand within the greater Central Luzon area and along the NLEX-SCTEX-TPLEX corridor. The connectivity brought by new infrastructures in northern Luzon will drive those markets to grow faster,” Kash Salvador, Associate Director for Investment & Capital Markets, noted.
Related: Getting to know Pampanga, an up-and-coming property hotspot
