State-run Bases Conversion and Development Authority (BCDA) has secured the approval from the National Economic and Development Authority (Neda) to develop some 36,000 hectares in the Clark Freeport and Special Economic Zone into a new city half the size of Metro Manila.
Set to rise on a 36,000-hectare property is a 9,450-hectare metropolis.
The plan is to start developing 1,321 hectares under the first phase.
BCDA said the project covered by the Clark Green City Master Development Plan was expected to help attract investments, generate more jobs, boost the economy and sustain inclusive growth.
The Clark Green City project is expected to generate as much as P1.57 trillion in revenues every year, and as many as 925,000 new jobs, upon full completion of the planned development.
In a statement, BCDA president and CEO Arnel Paciano D. Casanova noted that Clark Green City would be the first project of this magnitude.
“Not only are we building a new city, we are building the most modern city in the entire country,” he said.
“It will be a place where one’s home, place of work, and places of recreation are within walking or biking distances from each other. It will be a place where everyone is connected by both culture and technology. And with sustainability as number one priority in building the city, it is truly designed with future generations in mind,” Casanova said.
According to Casanova, the Clark Green City will play a major role in decongesting Metro Manila.
At the same time, it will showcase what the country can offer in terms of urban planning and sustainable development.
“With the trend in building sustainable and modern cities in major countries across the world, through Clark Green City, we will be able to show our neighbors that the Philippines can likewise make a huge step in modern, sustainable development,” he said.
According to Casanova, approximately P59 billion will be used for the first five years of development.
He said that the bulk of the development cost would be shouldered by the private sector since the city would be developed through the Public-Private Partnership program.
The next step for the BCDA is to seek the approval of President Aquino for the Clark Green City Master Development Plan so that the agency can start bidding out the development contract for the property by next year.