A company owned by a friend of President Rodrigo Duterte has set a timetable of 22 months to turn undeveloped areas in Clark Global City (CGC) into a business hub.
Global Gateway Development Co., owned by Davao City-based businessman Dennis Uy, has contracted Excelsium Inc. to develop more than 130 hectares in CGC.
This land development and construction project is estimated to cost around P4 billion and will last for 22 months from signing of the agreement between the parties.
“We are excited to welcome Excelsium as another key partner in the rise of this new premiere central business district,” Global Gateway chair Dennis Uy said in a statement.
“Part of the vision for Clark Global City is to make it a suitable place for business, life, and innovation that would attract the country’s young labor force,” he said.
Excelsium Inc. is a special purpose vehicle under Excelsior Holdings, Inc., a real estate
investment company focused on residential, office and commercial developments in Metro
Manila and in Central Luzon, particularly in Clark Global City.
The firm is dedicated to exploring opportunities in the growing real estate market inside the Clark Freeport Zone.
Aside from buildings, road networks, storm drainages, potable water supply, fire protection lines, sewer lines, electrical distribution network, telecommunications facilities, security camera lines and street lighting are also being constructed.
“What can be more appropriate than to partner with a like-minded team known for its engineering innovation,” Uy said.
CGC president Freddie Placino said one of Udenna’s core values is the speed with which it finishes its projects.
“We work with urgency,” he said./TSB