Huge investment opportunities await businesses in former military zones in Pampanga's New Clark City and La Union's Poro Point which are being opened up for residential, recreational, transportation, industrial and technology projects, said Bases Conversion and Development Authority Chairman Delfin N. Lorenzana.

Lorenzana, who was also the National Defense secretary in the past administration, presented the government's visions for the two investment sites last Thursday, 29 October 2023  during the weekly meeting of the Rotary Club of Manila at the Manila Polo Club, Makati City. Proposed projects for these destinations are slated to be launched next year.

Established in 1992 under Republic Act 7227, BCDA engages in private-public partnerships to turn military bases into highly revenue-generating destinations to help spur national economic growth and support the modernization of the Philippine military.

Lorenzana expects a 550-hectare portion of the New Clark City to attract corporations, condominium developers and artists into its designated business district, housing zone, and convention and exhibition complex.

"The BCDA already had a vision when I came in. My job is to implement that, develop a green smart modern city particularly in New Clark City which is the biggest property we have with 550 hectares," he said.

"The overall vision for this place is to be a people-friendly, business-friendly community," Lorenzana continued.

The Clark Central Business District is just three kilometers away from the Clark International Airport and spans 100 hectares, where a mix of corporate towers and commercial establishments will rise.

The BCDA expects this district to be launched in the first half next year at a cost $3.8 billion.

For the second half next year, the government agency plans to launch a data center colocation facility on a 10-hectare land that will run on a total of 50 megawatts power capacity. The project cost is $2 billion.

For the convention and exhibition complex, the BCDA is setting aside 22 hectares of land within New Clark City, with total investment costing up to some $930 million.

For the housing zone, the government agency offers 35 hectares of land which can accommodate 6,000 condominium units in multiple climate-resilient buildings. The housing project costs $200 million and is slated to be launched in the first quarter of 2024.

In terms of transportation, the BCDA is looking to establish a mass transport system to carry 200,000 people around New Clark City. This project is set to be launched in the second quarter of 2024.

Currently, the government is conducting a feasibility study for the construction of a 25-hectare central mixed-use transport hub to be launched in 2026.

Meanwhile, the 1.6-hectare Clark International Airport Hub is expected to be introduced sooner in 2025.

An industrial complex with three estates, apart from an innovation park by Filinvest Development Corporation, are planned to be opened between 2024 and 2026.

Envisioned to be an urban lifestyle and vibrant destination, the New Clark City has been promoted to Internet connection providers that will design, lay out, operate, and lease fiber technology for faster communication.

The BCDA estimates total project cost at $2.533 billion and has set the cooperation period with the private sector at 25 years. Interested firms can submit their applications to the BCDA starting this month.

The New Clark City is projected to become another business district with a population of 1.2 million people and over 600,000 workers.

For a much-relaxed environment, the BCDA is opening 15 hectares of land in La Union's Poro Point High Cliffs. The government agency aims to attract developers of luxury and mid-range condotels and eco-resorts to this area. This project is expected to be launched in the second quarter next year.

Overall, Lorenzana reported that the Armed Forces of the Philippines has received P59.71 billion or 43 percent of proceeds from the use of converted military bases as of end-September.

Existing BCDA projects include the Bonifacio Global City in Taguig and New Port City in Pasay, among others.