Work begins at US$5 billion development in the Philippines

Udenna Development Corporation began working on its US$5 billion investment in the Philippines’ Clark Freeport Zone.

Philippines.- The Udenna Development Corporation (UDEVCO) has begun working on Clark Global City’s The New Center, a development for the Philippines’ Clark Freeport Zone (CFZ) which will have more than US$5 billion injected over the next 10 years. The project includes the construction of a casino and an entertainment complex.

“We are developing what will become the Philippines’ new center of business, life and innovation,” Udenna chairman and CEO Dennis Uy said and added: “Clark Global City will offer a global business destination and spur economic transformation outside of Metro Manila, complementing the government’s efforts to spread growth across the country.”

47 hectares out of the 177-hectare development have already been fully completed with horizontal infrastructure built to withstand storms. “Clark Global City’s location within a special economic zone and near major thoroughfares along with the pool of diverse talents that abound the region make for a global business destination,” Uy added.

In addition, the executive said the company hopes that Clark Global City “will help pave the way for more companies in various industries to invest in the Philippines and, subsequently, create more employment opportunities for Filipinos.”