Gotianun family to manage 288-hectare New Clark City development

Filinvest Land Inc. (FLI) of the Gotianun family is set to take sole responsibility in the management and development of a 288-hectare property in New Clark City in partnership with the Bases Conversion and Development Authority (BCDA)

FLI said its board approved an agreement between the company and Filinvest BCDA Clark Inc. (FBCI) for the management of the property in New Clark City.

Under the agreement, FLI will be the exclusive and overall project manager in charge of development, operations, and leasing and marketing for the project.

“This management agreement shall be submitted for approval of the stockholders during the next stockholders’ meeting,” FLI said.

FBCI is a joint venture between FLI and BCDA, in which the Gotianun-led real estate developer holds a 55 percent stake.

In 2015, FLI won the bid for the right to own 55 percent of the joint venture company with the BCDA that will be tasked to develop, manage and lease the first phase of Clark Green City.

The first phase covers 288 hectares of land that will form part of the new mixed-use metropolis rising in Northern Luzon adjoining the Clark Freeport Zone and the Clark International Airport.