Clark Dev’t Corp. on track to hit P12.35-B investment goal

CLARK Development Corp. (CDC) said it is on track to meet its target of P12.35 billion in investment pledges this year, even in the face of the disruptions caused by the Middle East crisis.

“For 2026, our commitment to the GCG (Governance Commission for GOCCs) is P12.35 billion worth of investments,” Noelle Mina D. Meneses, CDC vice-president for the business development and business enhancement group, said at a briefing late Monday.

“We’re very happy that just after the first quarter, the CDC signed P9 billion to P10 billion worth of investment (pledges),” she said.

Ms. Meneses said this head start could allow CDC to “exceed our targets this year.”

The CDC suspended its P1 per liter fuel royalty for two months starting April 1 to ease the impact on Clark Freeport locators of rising fuel costs.

CDC President and Chief Executive Officer Agnes VST Devanadera said it “does not waive government revenues and retains regulatory oversight within the zone, but (the freeze on royalties is) intended to help ease operating costs and support business continuity.”

She also noted that Petron Corp. has agreed to ensure fuel supplies for Clark locators based on a prioritization system, with talks ongoing with other suppliers.

Petron’s allocation system classifies locators into essentials, support services, and others, CDC said.

Locators have been encouraged to adopt work-from-home arrangements; install solar panels on their rooftops; adopt net‑metering and distributed energy programs; and consider electric vehicle options, CDC said.

Last month, CDC signed a P4.4-billion deal with Korean developer Luxia Corp. to develop a mixed-use property within Clark Freeport.

This high-end development will include hotel and serviced apartments for the growing meetings, incentives, conferences, and exhibitions market. — Beatriz Marie D. Cruz