New Clark City

Aileen Zosa, the first woman president and chief executive officer (PCEO) of the Bases Conversion and Development Authority (BCDA), is laser-focused on moving forward the agency’s goal to contribute to economic and social transformation of the country through the development of the 9,450-hectare New Clark City.

New Clark City, located in the towns of Bamban and Capas in Tarlac, is distinct and separate from the Clark Freeport and Special Economic Zone, as well as from the Dennis Uy-led Clark Global City, which are both located in Pampanga province.

In an interview, Zosa, a 28-year BCDA veteran, reiterated the need to promote and encourage development outside of the greater Metro Manila area to help decongest the already crowded metropolis and spread growth in Central Luzon.

Zosa and her team, composed of chief finance officer Hedda Rulona, lawyer Soledad San Pablo and consultant Myra Ocampo, have already had experience in developing, together with its private sector partners, an economic powerhouse -- the successful 240-hectare Bonifacio Global City or BGC in Taguig City that is proving to be a stiff competitor of the Makati Central Business District.

Zosa points out that while BGC is a model, it actually still lacks several components, one of which is transportation development and a central park. BCDA has already secured the assistance of the Japanese government for the development of a commuter railway system that will provide the much needed connectivity to Metro Manila.

Likewise, New Clark City will be the first ever city center in the country, according to Zosa, that will have a true central park that will take advantage of the existing natural ecosystems and biodiversity of Tarlac, a project that the Asian Development Bank is supporting.

Bigger and more ambitious

New Clark City, Zosa points out, is way bigger and more ambitious than BGC, which is now more well-known for its high-end residential development.

New Clark City was initially conceptualized by former BCDA PCEO Arnel Casanova in 2012 during his term. It was from that period until 2016, when the blueprint for the Central Luzon development was drawn up, portions of which have already started.

To date, based on BCDA data, investments committed by private and government locators in New Clark City have reached P95.51 billion, of which P14.59 billion has actually been invested.

The first locator of New Clark City is the Gotianum-led Filinvest Land Inc., which has embarked on a 288-hectare township project.

Likewise, the Korean Hann Development Corp., led by its chairman and CEO Han Daesik, is betting big on the New Clark City following his already successful $600 million investment in the Hann Casino Resort in the Clark Freeport and Special Economic Zone, which he is planning to expand soon.

Han, who was recently in the country to kick off his plans for a world-class golf course in New Clark City, had revealed in an interview with the Asian Gaming Brief his grandiose plan for the 450-hectare, $4-billion Hann Reserve integrated luxury casino resort in Tarlac, for which he has already secured a P9-billion loan for the first phase of the development from a consortium of local banks supportive of his project.

Furthermore, Han also disclosed plans for a possible initial public offering (IPO) and possibly a real estate investment trust (REIT) offering to finance the further stages of his planned seven to eight year development of the resort, with the projected initial operation of a VIP casino only by 2028 at the earliest.

Leveraging on what Han calls “first mover advantage” and “focusing on direct VIP,” he hopes to make it tough for his potential competitors in New Clark City.

The Hann Reserve casino project, according to Han, would be a “very luxury integrated resort” that would expand his gaming interest in Clark to Metro Manila and to international visitors arriving through the Clark International Airport.

According to Zosa, the Hann Reserve project, which is an “ultra-luxury mountain reserve,” will feature the country’s first Banyan Tree Resort.

Han’s three- year expansion plan for his Hann Casino Resort in Clark would see the addition of up to 600 more slot machines and 100 gaming tables, all while awaiting the development of the Hann Reserve Casino Resort in New Clark City.

New government administrative center

New Clark City, which is intended to help decongest Metro Manila, is also getting the much-needed boost from the Bangko Sentral ng Pilipinas (BSP), which has already started construction of its 31.3-hectare complex that will house its minting facility currently located in Quezon City.

The BCDA has also allocated a five-hectare lot for a proposed Virology and Vaccine Institute of the Philippines, one of the top priorities of the Marcos administration for the health sector.

Educational institutions such as the National Academy of Sports, the University of the Philippines and the Philippine Science High School have also started construction work in the area.

Just recently, BCDA also formed a partnership with Japan’s New Energy and Industrial Technology Development Organization for a three-year demonstration on smart mobility solutions.

All of these and more are what truly excites and drives Zosa to dream more for New Clark City.