Global Gateway Development Corp.—owned by Udenna’s Clark Global City Corp.—has contracted Excelsium Inc. to develop over 130 hectares of remaining undeveloped areas in Clark Global City.
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.”
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 Region 3, particularly in Clark Global City.
The firm is dedicated to exploring opportunities in the growing real estate market inside the Clark Freeport Zone.
Along with the horizontal development is the targeted completion of a road network with sidewalks; storm drainage; potable water and fire protection lines; sewer lines; electrical underground distribution network; the basic facilities for telecommunications, CATV and CCTV underground distribution lines; and street lighting.
“What can be more appropriate than to partner with a like-minded team known for its engineering innovation,” Uy said.
Clark Global City president Freddie Placino said one of Udenna’s core values was the speed of execution for its projects.
“We work with urgency,” he said. “This is in line with our strategy to fast-track the development of Clark Global City. By joining forces with Excelsium, we can sooner bring to fruition our vision of developing Clark Global City as the new center for business.”