Clark seen on track to beat P12.35-B investment target for 2026

MANILA, Philippines — State-run Clark Development Corp. (CDC) said it’s on track to beat its P12.35-billion investment commitment this year after signing roughly P9 billion to P10 billion in projects in the first quarter alone.

At a press briefing on Monday, Noelle Meneses of CDC’s Business Development and Business Enhancement Group said the investment pipeline remains strong, with some sites already wait-listed as negotiations for additional projects continue.

“These are good developments despite what is happening in the Middle East. We feel that the investors’ confidence is here,” Meneses said. “Hopefully, we will exceed our targets despite what is happening outside of Clark.”

READ: Middle East war: global economic fallout

Fresh deals

Among the latest transactions, CDC closed a P4-billion residential and hotel development at a 2-hectare property near the Hann Resorts area.

It also signed a roughly P1.23-billion assisted-living expansion spanning an area of 4.9 hectares with an existing locator.

Another prospective hotel project along the Clark International Speedway is also moving forward, Meneses said.

The investment momentum has held despite the oil shock triggered by the Middle East conflict, which raised concerns over fuel supply and rising costs within the freeport.

READ: Oil prices rally, Asian stocks mixed after Trump’s latest Iran threat

To mitigate these risks, CDC said it has secured fuel supply deals with Petron, while smaller fuel players have also indicated plans to prioritize Clark.

Aiding locators

The agency has also suspended, for April and May, the collection of its P1-per-liter royalty fee on fuel, along with volumetric fees on Jet A1, to help ease cost pressures on locators.

The foregone revenues are estimated at P12.5 million over two months.

“At the end of the day, ayaw po namin na may ma-displace, may ma-retrench, or may magsaradong kumpanya sa zone dahil po sa pagtaas ng krudo sa buong mundo,” Meneses said.

(At the end of the day, we don’t want companies to be displaced, undergo retrenchment, or close altogether due to the rising crude oil prices.)

READ: Philippine March inflation soars to 4.1% on oil price shocks from Middle East war

CDC said it has not received reports of export demand suddenly drying up or locators cutting jobs, although some tourism-related businesses farther from the parade grounds have seen lighter traffic.

Clark hosts more than 1,300 domestic and foreign locators, including SFA Semicon Philippines Corp., Yokohama Tire Philippines, Hann Casino, Hilton Clark and Marriott Hotel. INQ