ISOC Holdings, Inc. on Wednesday said its property unit has signed a lease agreement with the Clark Development Corp. (CDC) for a seven-hectare property within the Clark Freeport Zone.
In a statement, ISOC said it is “committed” to investing P6 billion to create a mixed-use, masterplanned community in Clark.
“We see this project as a showpiece for ISOC’s very strong push towards environmental sustainability where we will maximize the natural attributes and resources of the property and incorporate them in the design, flow, construction and use of the buildings and facilities,” Michael C. Cosiquien, chairman of ISOC Holdings, was quoted saying in a statement on Wednesday.
The Clark project will be built by ISOC Land (I-Land), the company’s second after its I-Land Bay Plaza project under construction at the Mall of Asia complex in Pasay City.
ISOC said the Clark project will have a hotel, mid-scale hotel complex, entertainment and gaming facilities, office buildings, serviced apartment complex, residential units, and retail, food, and beverage outlets.
Mr. Cosiquien said the company wants all the buildings to comply wit Leadership in Energy and Environment Design (LEED) standards.
CDC President Noel F. Manankil said that this project will help boost Clark’s bid to become another central business district.
“There is a growing demand for more lodging facilities and corresponding amenities within a carefully planned community that ushers in a new, unique and distinctive lifestyle. This undertaking augurs well in the overall development blueprint for Clark that would redound to a greater benefit for the region,” Mr. Manankil said.
This development is expected to benefit from the ongoing infrastructure projects such as the New Clark City, a new passenger terminal at Clark International Airport, and the Manila-Clark and Clark-Subic railway systems. — Vincent Mariel P. Galang
