CLARK FREEPORT—A premium mixed-use development is joining Clark’s roster of premier hospitality establishments, strengthening the Freeport’s award-winning business tourism sector.
Clark Development Corporation (CDC) and South Korea’s Luxia Corporation sealed the signing on March 24 at the Clark Visitors Center, committing P4.4 billion to Clark’s Meetings, Incentives, Conferences, and Exhibitions (MICE) economy. The lease will provide a 20,000 sqm lot along Creekside Road for a high-end mixed-use development featuring a hotel and serviced apartments.
For CDC President and CEO Atty. Agnes VST Devanadera, the development signals a big turn in Philippine-Korea business relations, strengthening bilateral trade deals by Philippine President Ferdinand Marcos Jr. and South Korea President Lee Jae Myung last March 4.
“We are considering this as one of the best projects to show that there are very good economic relations between the Republic of Korea and the Republic of the Philippines,” Atty. Devanadera said.
“Finally, we have this. We’ve been looking forward to this, we’ve been working on this, with extra efforts in determining how we can help one another and how we can put up one stone to another,” she added.
Photo: CDC
Luxia Corporation is a subsidiary of Luxia Holdings, Inc., a Seoul-based upscale property developer. Luxia CEO Chae Ji-won, Luxia Managing Director Kim Moonhyun and J. Partners and Architects Director Paul Bae attended the signing.
Bae, who is an award-winning principal architect for a Luxia development in Seoul, said the property will “bring specialty and excellence of high-end residences to Clark.”
“We think Luxia will be the catalyst. It will be the bridge taking Clark to the next level, providing high-end residences, a premium hotel, hospitality, and retail,” Bae said.
Also present at the signing were Vice President for Administration and Finance Group Jose Miguel de la Rosa, Vice President for Engineering Services Group Engr. Teresito Tiotuyco, Assistant Vice President for Business Development Department Thelma Ocampo, Assistant Vice President for Business Enhancement Department Rodem Perez, Assistant Vice President for Administration Department Atty. Bonifacio Tarenio Jr., Assistant Vice President for External Affairs Department Rommel Narciso, Investment Promotions Division I Manager Marigrace Gutierrez, Building and Facilities Permits Division Manager Engr. Leoncio Tan, Corporate Social Responsibility and Placement Division Manager Maricris Gepte and Communications Division Manager Astrud Aguinaldo. (PR-CDC)