BCDA seeks UK funding for proposed park, housing site

NEW CLARK CITY — The Bases Conversion and Development Authority is seeking United Kingdom investors to finance two major projects inside the New Clark City.

According to BCDA president and chief executive officer Engr. Joshua M. Bingcang, a team from the Philippine government took part in the UK Familiarization Visit on Financing and Delivering Sustainable Infrastructure Projects and the BCDA pitched to various British government entities and investors projects lined up for the new metropolis.

“One of the topics regarding the New Clark City Central Park includes the 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,” he said.

The conceptual plans and feasibility studies for both projects were prepared by the UK Foreign, Commonwealth, and Development under the Global Future Cities Initiatives Program.

“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,” Bingcang said.

Among the organizations met by the Philippine delegation were the Department for Business and Trade, 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 joined familiarization tours to benchmark and study UK’s best practices on sustainable urban redevelopment and transit-oriented developments.
“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,” 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 Program, an initiative that aims to promote inclusive and sustainable economic growth and urban resilience in 19 cities across the world, including New Clark City.