fbpx
Connect with us

Business

Clark Airport consortium commits to invest P6B, double terminal capacity

Published

on

The consortium that recently bagged the Clark International Airport concession, a triumvirate consisting of the Gokongwei, Gotianun and Singaporean airport operator Changi, committed to invest about P6 billion to modernize this international gateway and double the terminal capacity to eight million passengers per annum.

Filinvest Development Corp. (FDC), JG Summit Holdings Inc., Philippine Airport Ground Support Solutions Inc. and Changi Airport Philippines (I) Pte. Ltd. (CAP), a wholly owned subsidiary of Changi Airports International, formed the North Luzon Airport Consortium (NLAC) to undertake this project.

The notice of award was given to NLAC for this hybrid public-private partnership project with a 25-year concession by the Bases Conversion Development Authority (BCDA) in December 2018.

“We are honored to be given the opportunity to participate in the development of Clark International Airport. We believe in the potential of the Philippines and the Luzon region. Together with our partners and with the support of key stakeholders, we will develop Clark as the region’s premier gateway,” said Lim Liang Song, chief executive officer of Changi Airports International.

“Building on the airport’s geographical position and catchment, we will grow the airport’s network and provide passengers with a superior airport experience including a brand new commercial area. In addition to global brands, the new airport terminal will also have a curated selection of retail and food and beverage outlets that showcases the best of what the Philippines has to offer,” he added.

NLAC intends to promote Clark International as the Northern and Central Luzon Gateway Airport by actively engaging strategic partners like tourism authorities and airlines.  The consortium also vowed to grow traffic and build a wider route network, and establish connectivity to Clark with more domestic and international points.

“With the new Clark International Airport, travelers and visitors can expect to be greeted with fast, efficient and hassle-free service. We believe that the ease in travel in a world-class airport will help boost the region’s tourism industry and related businesses. It is NLAC’s vision to redefine the air travel experience at Clark International Airport. The airport will be the Northern and Central Luzon’s gateway, connecting the region to the rest of the Philippines and the world,” FDC president and chief executive officer Josephine Gotianun-Yap said.

“We are very optimistic about the prospects of Clark International Airport and will do our part to support its growth by providing a world-class gateway airport. With our group’s experience in airline operations, property development and our various consumer-oriented businesses, we will provide the best service and value proposition to both passengers and airlines to make Clark International their airport of choice,” said Lance Gokongwei, president and CEO of JG Summit Holdings.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Lalamove Philippines expanding services to Pampanga

Published

on

Lalamove Philippines on Wednesday announced plans to expand its delivery services to Pampanga, citing a growing need for logistics services in areas outside of Metro Manila.

On the sidelines of the AVCJ Private Equity & Venture Forum, Lalamove Philippines managing director Dannah Majarocon said the company is looking to expand to several areas.

“We are looking at moving into another city by the first half of next year. It’s a toss-up, but we are leaning more towards Pampanga because it makes a lot of sense,” she said in an interview with GMA News Online.

“Our business clients in Manila want to have items delivered all the way to Pampanga and from Pampanga to Manila, plus you have another port that is in that area,” she said.

Lalamove offers delivery services in over 100 cities across Mainland China, Southeast Asia, and India. In the Philippines alone, the company has over 45,000 partner drivers catering to clients in Manila and Cebu.

“Eventually, we will move into other cities further south. We’re still deciding if we’re gonna go Davao or Iloilo, but the most logical next phase for us will be where the central business districts are,” said Majarocon.

The company is banking on the growing need for logistics services, as it has continued to register positive growth in terms of delivery orders.

“It’s hard to fully determine or to fully attribute if it’s because of traffic because the growth of Lalamove has continuously compounded every single week, every single month, ever since we started here,” she said.

“Growth has been ‘exponentially fantastic’ for lack of a better term, and I would attribute that more because we are addressing a need in the market,” Majarocon added. —GMA News

Continue Reading

Business

Megaworld to build P1.8-B mall in Pampanga

Published

on

MEGAWORLD Corp. is spending P1.8 billion to construct a new mall inside its Pampanga township Capital Town.

In a statement Monday, the listed property developer said Capital Mall will offer 33,000 square meters (sq.m.) of gross floor area across three storeys. The mall will make use of materials recovered from the sugar mill owned by Pampanga Sugar Development Corp. (PASUDECO), which used to stand on the site of the township.

“As a tribute to the legacy of Pampanga’s oldest sugar mill, we will build the Capital Mall with its rich cultural heritage in mind. Other recovered portions of the sugar mill such as the giant bull gears, sprockets, and mechanical parts will become part of the mall’s interiors,” Megaworld Chief Strategy Officer Kevin Andrew L. Tan said in a statement.

The mall will have four cinemas, a food hall, and a shophouse strip. It will likewise feature a landscaped garden that will have restaurants and cafés surrounded by water ponds and century-old trees.

“Even the food hall will sport an industrial architecture highlighted by more mementos of the sugar central. The cinemas will also feature the 1960s charm and ambiance,” Mr. Tan said.

Megaworld will start construction by the first half of 2020, with target completion in 2022. Via www.bworldonline.com.

Continue reading…

Continue Reading

Business

PH now Australian business’ top expansion destination

Published

on

Australian businesses in Southeast Asia have picked the Philippines as the most preferred destination for their expansion, a recent survey showed.

The Philippines has become the most popular market for Australian companies looking to expand, after being picked by 24 percent of survey respondents in the latest edition of Australian Business in Asean.

This marked the first time the country became the top pick of Australian businesses since the annual survey began in 2016.

The survey said 80 percent of businesses in the region plan to expand their operations by 2023, citing the growing middle class in Southeast Asia as among the factors that fueled their bullishness.

“The Philippines is now the most prominent destination for future investments, overtaking Vietnam in 2017 and Myanmar in 2016,” the 2019 survey read.

The 2018 edition did not include details on the expansion plans for specific countries, unlike in 2016, 2017 and 2019. It also did not specify its methodology and sample size.

“Philippine trade with Australia has increased significantly over recent years while there has also been growing Australian investor interest in the Philippines,” the survey said.

Traffic congestion in the country, however, was identified as a “high-impact constraint on business” by the majority of respondents, followed by government bureaucracy and the tax system.

More than one-third, or 36 percent, of Australian companies here in the Philippines have been operating here for more than two decades.

The survey said companies continued to be attracted to the market, citing that 14 percent of the respondents had been operating in the country for less than two years. —ROY STEPHEN C. CANIVEL

Via Inquirer.net

Continue Reading

Trending