Megaworld to develop mixed-use complex in Philippines
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Megaworld to develop mixed-use complex in Philippines

30 Nov 2011

Megaworld has signed an agreement with Clark Development Corporation to develop a 550-hectare former US military site into a mixed-use complex in Clark Freeport Zone and the Clark Special Economic Zone in the Philippines at a cost of PHP7bn ($159.8m).

Megaworld has signed an agreement with Clark Development Corporation to develop a 550-hectare former US military site into a mixed-use complex in Clark Freeport Zone and the Clark Special Economic Zone in Philippines at a cost of PHP7bn ($159.8m).

The development includes office, commercial, retail, leisure and entertainment, residential, and health and wellness components.

The development is part of the Philippine Government’s plan to transform the area into an airport-led urban centre for IT-enabled industries, aviation and logistics-related enterprises, tourism and other sectors.

The whole project is expected to create about 30,000 jobs.