THE Bases Conversion and Development Authority (BCDA) said it signed a partnership with the National Development Co. (NDC) to handle high-impact works in New Clark City.
In a statement on Wednesday, BCDA said it signed a memorandum of understanding (MoU) with the state-owned investment firm to carry out urban development projects that will help make New Clark City a smart city.
“We thank the NDC for readily offering to share with BCDA its knowledge and expertise in financing and implementing projects, particularly in urban expansion, industrial development, and energy, among others,” BCDA President and Chief Executive Officer Joshua M. Bingcang said.
“With more than a hundred years of experience and track record, NDC will surely become instrumental in the transformation of New Clark City into the country’s first smart, sustainable, and future-ready metropolis,” he added.
Under the MoU, NDC and BCDA will explore potential areas of collaboration, such as a feasibility study that may include a review of the current developments within BCDA properties.
NDC General Manager Antonilo DC Mauricio said the partnership hopes to replicate developments like Bonifacio Global City, which like Clark was built on former military-controlled land in Metro Manila.
“We want to leverage our strategic areas with partners who understand city-building, especially the BCDA,” he said.
The NDC pursues commercial, industrial, agricultural, and mining ventures in support of national economic development.
In August, President Ferdinand R. Marcos, Jr. proclaimed a 191,000-square-meter new special economic zone known NDC Industrial Estate, worth P343 million.
According to the Philippine Economic Zone Authority, the industrial estate is set to welcome three companies producing soap and other detergents, renewable energy, and custom electronics. — Justine Irish D. Tabile