BSP’s New Clark City complex gets BCDA green light, full development to proceed

State-run Bases Conversion and Development Authority (BCDA) said it approved on July 9, 2025 the detailed development plan for the new Bangko Sentral ng Pilipinas (BSP) Security Complex in New Clark City in Tarlac province.

This paves the way for the full-scale development of one of the country’s most significant decentralization efforts to date, it said.

It said the planned 31.3-hectare New BSP Security Complex would help decongest Metro Manila, redistribute economic activity and strengthen national resilience by relocating key institution functions to a safer and future-ready location.

“We commend BSP for leading this bold and forward-looking move,” said Joshua Bingcang, president and chief executive officer of BCDA.

“By transferring critical operations of the central bank to New Clark City, we’re accelerating countryside development, stimulating job creation and strengthening our institutions for generations to come,” said Bingcang.

The construction of the new BSP Security Complex will generate jobs. Once operational, the relocation of some BSP workers and their families will increase consumer activity and demand for housing and services across Central Luzon, the BCDA said.

“This movement of skilled workers and their families will invigorate the local economy, generating new demand for housing, retail, transport and public services in Tarlac and nearby provinces,” Bingcang said.

BCDA recently broke ground on a nearby affordable housing project under President Ferdinand Marcos Jr.’s Pambansang Pabahay Para sa Pilipino (4PH) Program. More than 800 units will be available in the first phase for public sector employees, including those relocating from Metro Manila.

The BSP Complex will be secure and self-sufficient for the central bank’s essential functions. It will feature open spaces aligned with New Clark City’s smart and green city design.

At the heart of this development is a commitment to sustainability. The BSP Complex is being designed for Leadership in Energy and Environmental Design (LEED) certification, ensuring world-class standards in energy efficiency, climate resilience, and environmental performance.

Its architecture, by acclaimed Filipino firm Aidea Inc., earned recognition at the 2022 Architecture MasterPrize for blending modern Filipino identity with modern institutional security and efficiency.

The national project supports long-term goals for secure and responsive governance. The facility will ensure uninterrupted BSP operations during disruptions such as natural disasters.

Under the current development timeline, the detailed design phase is scheduled to conclude by August 2025. Procurement for the general contractor will follow in December 2025.

The long-term lease agreement with BCDA, effective for 50 years and renewable for another 25, provides a stable base for BSP’s operations outside Metro Manila.