Clark Development Corp. (CDC) approved an amendment to PKR Corp.’s (PKRC) lease agreement, clearing the way for a P4-billion mixed-use residential and commercial project in The Villages as the Clark Freeport accelerates its push to become a premier investment and lifestyle destination.
The project, part of CDC’s strategy to accelerate investments and promote well-planned communities, is expected to reinforce Clark’s standing as Asia’s leading meetings and conference destination, a title conferred by the World Travel Awards.
CDC president and CEO Agnes Devanadera said the approval supports Clark’s effort to attract large-scale investments.
“With this agreement, we ensure that it is a good place for everyone to go and maintain The Villages as a preferred area where people can reside and be part of the community,” Devanadera said.
She said the revision showcases the agency’s commitment to investor confidence and efficient project execution.
Under the amended terms, PKRC has 30 months to complete construction, with performance safeguards in place to ensure timely project delivery.
PKRC president Daekwon Jung said the company is honored to participate in Clark’s growth and would deliver the project in partnership with CDC.
PKRC is a subsidiary of Kyeryong Construction Industrial Co. Ltd., a South Korean firm engaged in building, civil, residential and infrastructure projects.
The company has received national and local recognition for safety, technology and workplace practices from institutions including the Korea Expressway Corp., the Ministry of Trade, Industry and Energy and Daejeon Metropolitan City, according to its official website.
 approved a lease amendment for South Korean-owned PKR Corporation (PKRC), launching a P4 billion mixed-use residential and commercial project in Clark Freeport's The Villages. The move is part of Clark's strategy to boost large-scale investment and position itself as a premier Asian destination.){kind=link}