CLARK FREEPORT—Megaworld Corp.’s upcoming 550-hectare leisure complex here and in nearby Sacobia would create 30,000 jobs, its chairman and chief executive officer Andrew Tan said Tuesday.
Megaworld, a property development company, is investing P7 billion in the project, Tan said after signing a development contract with state-run Clark Development Corp. (CDC).
The memorandum of agreement (MOA) entered into by Megaworld and CDC calls for the establishment of a mixed-use complex that features offices, commercial, retail, leisure and entertainment (including hotels, casino and gaming facilities), residential, and health and wellness facilities.
The area will host foreign and local business process outsourcing locators, retirement communities and tourism enterprises, the CDC said.
Tan and CDC president and chief executive officer Felipe Antonio Remollo signed the MOA.
Remollo said Tan had been meeting with CDC officials since October to discuss the project.
“Megaworld is bound to reshape the tourism landscape of Clark as well as Central and Northern Luzon,” Remollo told the Inquirer. “Megaworld’s entry is a big push for Clark.”
The project’s first phase would take three to four years to complete, he said.—Tonette Orejas, Inquirer Central Luzon