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Gotianun realty firm seals joint venture with BCDA

288-hectare project in Clark Green City
/ 01:38 AM January 12, 2016

Gotianun-led Filinvest Land Inc. has gained a foothold in Clark Green City—envisioned to be the country’s first smart, green and disaster-resilient metropolis—with the signing of a joint-venture deal with the state-owned Bases Conversion Development Authority (BCDA) to develop a 288-hectare lot.

Located within the Clark Special Economic Zone in Tarlac, the property to be developed by FLI is part of the 9,450-hectare master-planned district in Clark Green City.

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Based on the terms of the joint venture, FLI will incorporate an industrial zone and a mixed-use development for residential, office, commercial and institutional elements.

“As the pioneer developer involved in Clark Green City, we are excited to be the catalyst of growth in such a visionary endeavor. At the same time, this is also a prime opportunity for us to expand our geographic footprint in Northern Luzon,” FLI president Josephine Gotianun-Yap said.

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FLI won the right to develop this portion of Green City in an earlier bidding conducted by the BCDA. At 288 hectares, the first parcel of land to be developed in this future metropolis is just as big as the Bonifacio Global City (BGC) project and will also follow the same model of sharing economic interest, according to the BCDA.

The joint-venture corporation is 55-percent owned by FLI and 45 percent by the BCDA. The venture will have a term of 50 years and renewable for another 50 years.

“The Filipino lifestyle has been shifting toward this new community paradigm where fully integrated developments thrive, so we see this as the best approach for Clark Green City,” Gotianun-Yap said. “We want to be able to offer a range of live-work-play opportunities for both Filipinos and foreign expatriates since this is located within the high-growth Clark Special Economic Zone.”

Gotianun-Yap said that comprehensive planning for the new project would be done in the next nine months while development would start within the next two years.

She said this latest venture would allow FLI to apply its expertise in large-scale, mixed-use township developments.

The company is developing several large-scale townships in Alabang, Rizal, Laguna and Cebu. FLI is the developer of the 244-hectare Filinvest City in Alabang, Muntinlupa, and 70-hectare City di Mare at the South Road Properties in Cebu, both of which are under joint-venture deals with the government.

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TAGS: BCDA, Business, Filinvest Land Inc., joint venture, property development
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