Capilion commits to invest P7B to develop Clark lot | Inquirer Business

Capilion commits to invest P7B to develop Clark lot

By: - Reporter / @amyremoINQ
/ 04:40 PM May 12, 2014

Screengrab from www.capillion.com

MANILA, Philippines — Singapore-based Capilion Corp. Pte. Ltd. has committed to invest P7 billion for the long-term lease and development of a three-hectare lot at the Clark Freeport in Pampanga.

In a statement issued Monday, Clark Development Corp. (CDC) said Capilion has been planning to develop the area as a mixed-used facility that could be used for business process outsourcing (BPO), residential, commercial, and retail enterprises. The proposed development will be completed in three phases by the end of 2018.

Article continues after this advertisement

“This will be the biggest contract to be signed by the new administration in terms of employment generation with a projection of 75,000 that can be accommodated within seven years,” noted CDC president Arthur Tugade.

FEATURED STORIES

Capilion Corp. was established in 2006 in Singapore to act as an international private equity and corporate finance advisory firm. It is part of the Capilion Group of Companies, Capilion Financial Ltd. and Capilion RE Engineering Ltd.

The Capilion Group has businesses involved in private equity, corporate services, real estate, financial securities, ship ownership, shipping and shipbuilding, infrastructure development and clean and renewable energy projects.

Article continues after this advertisement

It also has various stakes in different countries such as securities industry in Indonesia, ferry project in China, biofuel in Indonesia, infrastructure in Kyrgyzstan, monorail project in India, and various other real estate projects in Southeast Asia.

Article continues after this advertisement

Following the signing of the agreement, Capilion presented to CDC demand drafts worth $4.9 million (approximately P215 million) to represent the firm’s advance lease, security deposit and performance security plus a reservation for another 8,639 square meters adjacent to its property.

Article continues after this advertisement

Capilion also presented a bank certification confirming the firm’s fund of P2 billion for the property development in Clark.

According to CDC, the agreement signed by Capilion required the Singapore firm to sign an anti-graft undertaking and exert effort to hire indigenous people (IP) and persons with disabilities.

Article continues after this advertisement

RELATED STORY

Singapore-based firm paying P280M to take over TSI

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Arthur Tugade, Business, Clark Development Corp., Clark freeport, development, land, lease, Pampanga, property, Real Estate

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.