MANILA -- Century Properties Group said Monday it would form a joint venture with the property unit of tycoon Dennis Uy to develop a portion of Clark Global City.
A memorandum of agreement was signed last Jan. 9 for the partnership, which aims to build a residential and commercial complex on 2.6 hectares in Clark, Century Properties said in a statement.
Uy's Global Gateway Development Corp is the developer of Clark Global City, which is being positioned as an alternative to Metro Manila.
"By joining forces with the country’s leading local developers, we can sooner unlock the potential of Clark Global City, expand our economy’s capacity, nurture businesses and generate more employment opportunities,” said Uy, who chairs GGDC.
Century Properties chairman and CEO Jose Antonio said he was hoping for more partnerships with Global Gateway in the future.
"As massive infrastructure projects are underway to make Clark connected and highly accessible, Century Properties wishes to ride on this growth momentum by serving the real demand in the office and residential markets," said COO Marco Antonio.