Clark pioneer seals 4.1-ha freeport expansion
A pioneer real estate developer in the Clark Freeport is expanding its footprint at the former US air base, as the Luzon Economic Corridor (LEC) gathers momentum with projects such as the US-backed Pax Silica hub.
In a statement on Thursday, the Clark Development Corp. (CDC) said it signed a supplemental lease agreement with Berthaphil Inc. covering an additional 4.1 hectares.
This agreement builds on their partnership that currently supports more than 300 locators and about 20,000 jobs across Berthaphil’s business parks in Clark.
CDC president and CEO Agnes Devanadera said the expansion comes as Clark assumes a larger role in the Luzon Economic Corridor, the flagship investment initiative of the Philippines, the United States and Japan that is now backed by 11 countries.
“You laid the cornerstone for Clark’s development, and today Clark is not just Clark—it is the gateway to the Luzon Economic Corridor,” Devanadera said.
She addied that the Freeport is also expected to play a key role in the 1,619-hectare artificial intelligence hub under the Pax Silica initiative.
For his part, Berthaphil president and CEO Andre Schwartz said the company remained committed to expanding its investments in Clark, where it operates eight business parks.
“We manage eight business parks, lease to over 300 locators, and employ more than 20,000 people—today we reaffirm our pledge to invest our capital and resources in Clark,” Schwartz said.
Established in 1996, Berthaphil is among the pioneer investors in the Clark Freeport. It currently operates 12 real estate developments, including commercial centers, logistics facilities, office buildings, educational institutions and residential communities.
According to Berthaphil, it has developed more than 250 buildings over the past two decades.
