Young tycoon Michael Cosiquien-led ISOC Holdings is debuting into large-scale master-planned property development by investing P6 billion in a seven-hectare property in Clark Freeport.
Cosiquien—a co-founder of construction and engineering firm Megawide Construction but who is now building his own business empire—has signed a lease agreement with the Clark Development Corp. (CDC) to develop a seven-hectare property through ISOC Land (I-Land).
This is the second property development project for I-Land after its I-Land Bay Plaza project, which is now under construction at the MOA Complex in Pasay City. The latest is its first large-scale estate development venture.
The P6-billion project includes an upscale hotel for high-end tourists, a midscale hotel complex ideal for business travellers and families, entertainment and gaming venues, office buildings, a serviced apartment complex, residential units, and retail, food and beverage outlets.
“We see this project as a showpiece for ISOC’s very strong push toward environmental sustainability where we will maximize the natural attributes and resources of the property and incorporate them in the design, flow, construction and use of the buildings and facilities,” Cosiquien, who chairs ISOC Holdings, said in a press statement on Wednesday.
Cosiquien added all ISOC properties would be built based on the Leadership in Energy and Environment Design (LEED) standards.
CDC president Noel Manankil said this project was a welcome development as it would help Clark fulfill its role as the next major metropolis in Luzon.
“There is a growing demand for more lodging facilities and corresponding amenities within a carefully planned community that ushers in a new, unique and distinctive lifestyle. This undertaking augurs well in the overall development blueprint for Clark that would redound to a greater benefit for the region,” said Manankil.
I-Land Clark is seen to complement the Duterte administration’s “Build, Build, Build” program, which calls for a massive infrastructure buildup. Clark, in particular, is seen to benefit from the development of the New Clark City, the new passenger terminal at Clark International Airport, the Manila-Clark and Clark-Subic railway systems.
Cosiquien’s group plans to partner with world-class designers and companies for the concept, construction and design of the project. The master plan will include “harmonized recreational, entertainment, business and lifestyle complex complete with hotels, offices, serviced condominiums, and retail facilities all while being environment-friendly and sustainable.”