The Bases Conversion and Development Authority (BCDA) sought the support of the United Kingdom (UK) government and UK-based investors for the financing and implementation of two major sustainability projects in New Clark City.
Joining a contingent of Philippine government officials during the recent UK Familiarisation Visit on Financing and Delivering Sustainable Infrastructure Projects, the BCDA briefed various UK government entities and investors about New Clark City and the pipeline of projects to be implemented in the new metropolis.
Discussions centered around the New Clark City Central Park, a 44.8-hectare open recreational space envisioned to become one of the largest public parks in the Philippines, and the proposed 33.89-hectare mixed-income housing project also in New Clark City. The conceptual plans and feasibility studies for both projects were spearheaded by the UK Foreign, Commonwealth, and Development (UK FCDO) under the Global Future Cities Initiatives Programme.
“As we now move forward with the next stage of implementation for both projects, we once again urge the government, as well as the private sector in the UK to consider helping us finance and execute these projects to achieve a truly inclusive and sustainable community in New Clark City,” said BCDA President and Chief Executive Officer Engr. Joshua M. Bingcang.
Among the organizations met by the Philippine delegation were the Department for Business and Trade (DBT), the UK Export Finance, Infrastructure and Projects Authority, Transport for London, and Crossrail International. They also had the opportunity to meet infrastructure companies, real estate developers, and other private sector investors.
Aside from meetings and roundtable discussions, the BCDA also took the opportunity to join familiarization tours to benchmark and study UK’s best practices on sustainable urban redevelopment and transit-oriented developments (TODs).
“This outbound mission served as a venue to learn more about London’s sustainable initiatives, including the establishment of TODs around London’s stations. These will guide us as we pursue our own TODs in Bonifacio Global City and in Clark,” PCEO Bingcang said.
Facilitated by the UK FCDO and DBT, the UK business mission helped establish connections between important infrastructure players in the Philippines and UK, and forged avenues for cooperation between the two countries.
This business mission followed the investment roadshow organized by BCDA and UK FCDO back in 2022 as part of the latter’s assistance to the BCDA under the GFC Programme, an initiative that aims to promote inclusive and sustainable economic growth and urban resilience in 19 cities across the world, including New Clark City.