Plan to develop former Clark Air Base draws interest from local, Asian developers
Manila
THE plan by the Philippines to develop the former Clark Air Base has drawn interest from Asian developers, who may join a Black Eyed Peas rapper in promoting an alternative urban centre to the country's congested capital.
Taiwan's Farglory Land Development Co and the property arm of Japan's Sumitomo Corp are among foreign companies that may be keen on the project, joining local developers such as Ayala Land Inc, said Arnel Casanova, president and chief executive of the Bases Conversion and Development Authority or BCDA, the state manager of former military properties.
Earlier this year, Mr Casanova recruited Allan Pineda, a member of hip hop group the Black Eyed Peas, to promote the site to relieve congestion in Manila, one of the world's most overcrowded cities. Mr Pineda, whose American father was an airman at the former Clark Air Base, is a citizen of both the US and the Philippines. "We need to ease the…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US 30-year mortgage rate rises to five-month high of 7.24%
Money laundering accused Su Baolin’s Sentosa property goes unsold at auction
US Judge approves US$418 million settlement that will change real estate commissions
In San Francisco, a home renovation can become a battle royale
Country Garden extends bonds to avoid first local default
Daughter of Chinese steel-and-nickel tycoon picks up S$84 million Bin Tong Park bungalow