Global Gateway Development Corp., a developer owned by Udenna’s Clark Global City Corp., tapped Excelsium Inc. to develop more than 130 hectares of remaining undeveloped areas in Clark Global City.
GGDC said the land development and construction project was estimated to cost around P4 billion and would last for 22 months from the signing of the agreement between the parties.
“We are excited to welcome Excelsium as another key partner in the rise of this new premier central business district. Part of the vision for Clark Global City is to make it a suitable place for business, life and innovation that would attract the country’s young labor force,” GGDC chairman Dennis Uy said.
“What can be more appropriate than to partner with a like-minded team known for its engineering innovation,” he said.
Clark Global City president Freddie Placino said: “One of Udenna’s core values is our need for speed. We work with urgency. This is in line with our strategy to fast-track the development of Clark Global City. By joining forces with Excelsium, we can sooner bring to fruition our vision of developing Clark Global City as the new center for business.”
Excelsium is a special purpose vehicle under Excelsior Holdings Inc., a real estate investment company focused on residential, office and commercial developments in Metro Manila and Central Luzon particularly Clark Global City.
The real estate firm is dedicated to exploring opportunities in the growing real estate market inside Clark Freeport Zone.
Clark Global City under the masterplan will be a mixed-use development with office buildings, residential developments, hotels, hospital, schools, transport terminal, sports center, an iconic tower, retail development and casino and entertainment complex.