Clark Global City (formerly the Global Gateway Logistics City) is a planned mixed-use central business district development at the

Clark Freeport Zone The Clark Freeport and Special Economic Zone (CFEZ), often shortened to Clark, refers to an area in Central Luzon, Philippines. The CFEZ in Pampanga covers portions of the cities of Angeles and Mabalacat and portions of the town of Porac whil ...

Mabalacat Mabalacat, officially the City of Mabalacat ( pam, Lakanbalen ning Mabalacat; fil, Lungsod ng Mabalacat), is a 3rd class component city in the province of Pampanga, Philippines. According to the 2020 census, it has a population of 293,244 people ...

and

Angeles City , anthem = Himno ning Angeles (Angeles Hymn) , subdivision_type3 = District , subdivision_name3 = , established_title = Settled , established_date = 1796 , established_title1 = Chartere ...

, Philippines.

Udenna Corporation Udenna Corporation is a holdings company made by the Udenna Group of Companies which is based in Davao City, Philippines, and founded by businessman Dennis Uy. Primarily involved in the Petroleum industry, petroleum and shipping industry in its i ...

is responsible for the development of Clark Global City since 2017. The development was initially meant as a product of Kuwaiti investment and was known as the Global Gateway Logistics City. The groundbreaking of the development took place in 2008.

History

As Global Gateway Logistics City

Clark Global City was initially known as the Global Gateway Logistics City (GGLC). It was conceptualized by American firm Peregrine Development International Inc. (PDII) to the Kuwaiti investment firm KGL Investment Co. (KGLI Co.) in 2006. KGLI accepted PDII's proposal and signed a memorandum of agreement with the Clark International Airport Corp regarding the project in April 2008. The groundbreaking ceremony was attended by President

Gloria Macapagal Arroyo Maria Gloria Macaraeg Macapagal Arroyo (, born April 5, 1947), often referred to by her initials GMA, is a Filipino academic and politician serving as one of the Deputy Speaker of the House of Representatives of the Philippines, House Deputy Spe ...

in August of the same year. KGLI was owner and developer of the GGLC through Global Gateway Development Corp (GGDC). The GGLC was later renamed as the Sabah Al-Ahmad Global Gateway Logistics City in March 2012 honor of Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the

Emir of Kuwait The Emir of the State of Kuwait is the monarch and head of state of Kuwait, the country's most powerful office. The emirs of Kuwait are members of the Al Sabah dynasty. Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah became the emir of Kuwait on 30 Sept ...

who had a state visit to the Philippines within that same month. GGDC assumed operational control over the project's development in 2014 following a legal dispute with PDII over alleged breaches by the latter over the engineering, procurement and management (EPCM) agreement the two companies entered.

As Clark Global City

The land to be occupied by the Clark Global City was acquired from the Global Gateway Development Corporation, the former developer of the area by the Udenna Corporation in 2017. The transaction was made through loans from the

Bank of China The Bank of China (BOC; ) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world. The Bank of China was founded in 1912 by the Republican government as China's central bank, repl ...

, BDO Unibank and the

Philippine National Bank The Philippine National Bank (PNB, Filipino/ tl, Bangko Nasyonal ng Pilipinas, lit=; es, Banco Nacional Filipino; Hokkien ) is one of the largest banks in the Philippines. It was established by the Philippine government on July 22, 1916, duri ...

. Udenna effectively acquired the project by through buying out the stakes of GGDC Holdings, the majority shareholder of GGDC, by its subsidiary Clark City Global Corporation. The move was approved by the Philippine Competition Commission on October 18, 2017 and the acquisition was completed by November 14 of the same year. Udenna's property arm, Udenna Development Corporation has been tasked to oversee the development of the project. Clark Global City was officially launched the following year on May 29 by the Udenna Corporation. By this time of the of the Clark Global City has been developed. It is planned that the whole business development to be completed in ten years.

Geography

Clark Global City covers an area of and situated within the

and

Pampanga Pampanga, officially the Province of Pampanga ( pam, Lalawigan ning Pampanga; tl, Lalawigan ng Pampanga ), is a province in the Central Luzon region of the Philippines. Lying on the northern shore of Manila Bay, Pampanga is bordered by Tarlac ...

References

{{Clark Freeport and Special Economic Zone Planned communities in the Philippines Mabalacat Kuwait–Philippines relations Udenna Corporation Clark Freeport Zone

History

As Global Gateway Logistics City

As Clark Global City

Geography

See also

References