DOUBLE 11 TO INVEST UP TO P200M FOR SUPER STATION IN NEW CLARK CITY

Filipino-owned Double 11 Properties Corp. has committed to invest some P200 million to develop a property in New Clark City into a full-service station which includes a commercial complex and charging terminals for electric vehicles (EVs).

In a statement released Wednesday, the Bases Conversion and Development Authority (BCDA) said its president and chief executive officer Joshua Bingcang signed the long-term lease of the property with Double 11 Properties Corp. president Romeo Siccion.

The BCDA said Double 11 has committed to invest at least P100 million for the development of the facility in a one-hectare property, covering the mixed-use commercial complex, retail support businesses, and charging terminals for EVs.

It added Double 11 — which operates and maintains parks and super stations — has also committed an additional investment of P100 million for a Phase 2 expansion which will cover another hectare.

The super station is expected to generate P100 million in revenues for the government, housing over 20 retail stores and offices. It is projected to serve an estimated 200,000 motorists annually, and generate some 500 jobs for the residents of Tarlac and nearby communities.

“This partnership signals another milestone in the development of New Clark City as a smart and green metropolis, one that is ready for a future filled with electric vehicles and eco-friendly cars,” BCDA’s Bingcang said.

“This is also a step towards our ’15-minute city’ vision for New Clark City where basic amenities and facilities are easily accessible within a walking or cycling distance,” he added.

The BCDA is mandated to help strengthen the Armed Forces of the Philippines (AFP), while building cities. It also engaged in public-private partnerships to boost public infrastructure such as tollways, airports, seaports, and major real estate developments.

Double 11 projects include Northwalk Clark along the M.A. Roxas Highway in Pampanga, the Caltex Station along the North Luzon Expressway (NLEX) northbound, the Shell of Asia along the NLEX southbound, the Northwalk 1 and 2 in San Fernando in Pampanga, and the PTT Station along the Subic-Clark-Tarlac Expressway.

“Using our experience and expertise, we will not only be developing a super station, but also a lifestyle development where people can park, dine, shop, and work,” Double 11 business development manager Ren Siccion said.—AOL, GMA Integrated News

This article Double 11 to invest up to P200M for super station in New Clark City was originally published in GMA News Online.

2024-07-03T09:12:31Z dg43tfdfdgfd